Tesla (NASDAQ:TSLA) Receives “Market Perform” Rating from Oppenheimer

Oppenheimer reaffirmed their market perform rating on shares of Tesla (NASDAQ:TSLA) in a research report released on Wednesday morning, Benzinga reports.

Several other analysts have also recently issued reports on TSLA. Royal Bank of Canada reaffirmed an outperform rating and set a $298.00 price objective on shares of Tesla in a research note on Wednesday, March 27th. Bank of America raised shares of Tesla from a neutral rating to a buy rating and set a $220.00 price objective for the company in a research note on Wednesday. HSBC dropped their price objective on shares of Tesla from $143.00 to $138.00 and set a reduce rating for the company in a research note on Wednesday, April 3rd. Robert W. Baird reaffirmed an outperform rating and set a $280.00 price objective on shares of Tesla in a research note on Wednesday, April 17th. Finally, Canaccord Genuity Group dropped their price target on shares of Tesla from $267.00 to $234.00 and set a buy rating for the company in a research note on Thursday, January 25th. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $186.22.

Tesla Stock Up 12.1 %

TSLA opened at $162.13 on Wednesday. Tesla has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $176.28 and a 200 day moving average price of $208.91. The company has a market cap of $516.35 billion, a PE ratio of 41.36, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 13.68% and a net margin of 14.37%. The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the company earned $1.07 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Sell-side analysts expect that Tesla will post 1.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TSLA. Norges Bank bought a new stake in Tesla in the 4th quarter valued at about $7,844,757,000. International Assets Investment Management LLC boosted its holdings in shares of Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Tesla by 34.0% in the third quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after buying an additional 2,293,344 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.