Tesla (NASDAQ:TSLA) Earns “Underperform” Rating from Sanford C. Bernstein

Sanford C. Bernstein restated their underperform rating on shares of Tesla (NASDAQ:TSLAFree Report) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $120.00 price objective on the electric vehicle producer’s stock.

Several other brokerages also recently weighed in on TSLA. Barclays decreased their target price on Tesla from $225.00 to $180.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. Royal Bank of Canada lowered their price objective on shares of Tesla from $294.00 to $293.00 and set an outperform rating for the company in a research report on Wednesday, April 24th. Canaccord Genuity Group dropped their price objective on shares of Tesla from $234.00 to $222.00 and set a buy rating on the stock in a research note on Wednesday, April 24th. Wedbush restated an outperform rating and issued a $275.00 target price on shares of Tesla in a research note on Monday, April 29th. Finally, HSBC dropped their price target on shares of Tesla from $138.00 to $120.00 and set a reduce rating on the stock in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $185.90.

Check Out Our Latest Stock Report on TSLA

Tesla Trading Up 3.9 %

NASDAQ TSLA opened at $177.29 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla has a one year low of $138.80 and a one year high of $299.29. The company’s 50 day moving average price is $172.41 and its 200 day moving average price is $196.18. The firm has a market capitalization of $565.41 billion, a price-to-earnings ratio of 45.23, a PEG ratio of 4.31 and a beta of 2.32.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. On average, sell-side analysts predict that Tesla will post 1.87 EPS for the current year.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s 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 transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,855 shares of company stock worth $19,285,643. 20.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TSLA. Norges Bank acquired a new position in Tesla during the 4th quarter valued at about $7,844,757,000. International Assets Investment Management LLC raised its holdings in Tesla by 25,990.7% during 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 purchasing an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. raised its holdings in Tesla by 1.7% during 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 purchasing an additional 3,866,361 shares in the last quarter. Morgan Stanley lifted its position in Tesla by 7.8% in 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. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

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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.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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