Tesla’s (TSLA) Sell Rating Reiterated at UBS Group

UBS Group reissued their sell rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Monday,MarketScreener reports.

Other equities research analysts also recently issued research reports about the company. William Blair restated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Glj Research reissued a “sell” rating on shares of Tesla in a report on Thursday, July 24th. China Renaissance reissued a “hold” rating and set a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Bank of America boosted their price objective on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Finally, Benchmark reissued a “buy” rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $326.74.

Tesla Stock Performance

Tesla stock opened at $442.79 on Monday. Tesla has a 12-month low of $212.11 and a 12-month high of $488.54. The stock has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 255.95, a P/E/G ratio of 14.86 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a 50-day simple moving average of $347.75 and a 200 day simple moving average of $311.58.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. On average, research analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 over the last quarter. 19.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Momentum Wealth Planning LLC acquired a new position in Tesla during the 2nd quarter worth approximately $3,114,000. RS Crum Inc. boosted its holdings in Tesla by 16.1% during the second quarter. RS Crum Inc. now owns 1,621 shares of the electric vehicle producer’s stock worth $515,000 after purchasing an additional 225 shares during the last quarter. Caldwell Trust Co bought a new position in Tesla in the second quarter valued at $643,000. Base Wealth Management LLC grew its position in Tesla by 7.2% in the second quarter. Base Wealth Management LLC now owns 1,300 shares of the electric vehicle producer’s stock valued at $413,000 after purchasing an additional 87 shares in the last quarter. Finally, WT Wealth Management grew its position in Tesla by 178.7% in the second quarter. WT Wealth Management now owns 9,313 shares of the electric vehicle producer’s stock valued at $2,958,000 after purchasing an additional 5,972 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.