Tesla (NASDAQ:TSLA) Earns Sell Rating from Glj Research

Glj Research reaffirmed their sell rating on shares of Tesla (NASDAQ:TSLA) in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a $24.86 price objective on the electric vehicle producer’s stock.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada restated an “outperform” rating and issued a $440.00 price objective on shares of Tesla in a report on Thursday, January 30th. Barclays upped their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Piper Sandler raised their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group upped their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, Guggenheim reiterated a “sell” rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $326.50.

Tesla Trading Up 2.4 %

TSLA opened at $336.51 on Wednesday. The business has a fifty day moving average price of $407.68 and a 200 day moving average price of $306.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 164.96, a PEG ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts expect that Tesla will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 635,776 shares of company stock worth $231,335,112 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently modified their holdings of the company. Wedge Capital Management L L P NC raised its stake in shares of Tesla by 18.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,489 shares of the electric vehicle producer’s stock worth $651,000 after buying an additional 384 shares during the last quarter. Creative Planning lifted its holdings in shares of Tesla by 28.3% in the third quarter. Creative Planning now owns 896,484 shares of the electric vehicle producer’s stock valued at $221,677,000 after purchasing an additional 197,839 shares in the last quarter. Swedbank AB grew its position in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares during the last quarter. Petredis Investment Advisors LLC increased its stake in shares of Tesla by 4.0% during the 3rd quarter. Petredis Investment Advisors LLC now owns 36,056 shares of the electric vehicle producer’s stock worth $9,433,000 after purchasing an additional 1,380 shares in the last quarter. Finally, First United Bank & Trust raised its position in shares of Tesla by 222.3% during the 3rd quarter. First United Bank & Trust now owns 1,776 shares of the electric vehicle producer’s stock worth $465,000 after purchasing an additional 1,225 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

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.