Tesla’s (TSLA) “Overweight” Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Thursday,Benzinga reports. Morgan Stanley currently has a $410.00 price target on the electric vehicle producer’s stock.

TSLA has been the subject of several other research reports. Guggenheim restated a “sell” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and raised their price target for the company from $320.00 to $548.00 in a report on Friday, September 19th. HSBC raised their price target on Tesla from $120.00 to $127.00 in a report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a report on Friday, September 26th. Finally, CICC Research raised their price target on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $341.46.

Tesla Stock Down 5.1%

Shares of TSLA opened at $436.00 on Thursday. The business’s 50 day moving average is $361.74 and its 200 day moving average is $319.98. The company has a market capitalization of $1.45 trillion, a PE ratio of 252.02, a price-to-earnings-growth ratio of 15.97 and a beta of 2.08. Tesla has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS. Research analysts expect that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value 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 a total of 208,606 shares of company stock valued at $77,360,462 in the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Chapman Financial Group LLC bought a new position in shares of Tesla in the 2nd quarter worth $26,000. LGT Financial Advisors LLC acquired a new position in Tesla during the 2nd quarter valued at about $29,000. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank increased its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in Tesla during the 2nd quarter valued at about $30,000. 66.20% of the stock is 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.