Tesla’s (TSLA) Market Perform Rating Reaffirmed at Oppenheimer

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

Other research analysts also recently issued reports about the company. Truist Financial upped their price target on Tesla from $215.00 to $236.00 and gave the stock a hold rating in a research note on Thursday, October 3rd. Wedbush reiterated an outperform rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Glj Research reiterated a sell rating and set a $24.86 target price on shares of Tesla in a research report on Thursday, September 26th. Stifel Nicolaus initiated coverage on Tesla in a research report on Tuesday, June 25th. They set a buy rating and a $265.00 target price for the company. Finally, China Renaissance upgraded Tesla from a hold rating to a buy rating and set a $290.00 target price for the company in a research report on Friday, July 5th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $210.72.

Tesla Trading Down 8.8 %

TSLA stock opened at $217.80 on Tuesday. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a market capitalization of $695.79 billion, a price-to-earnings ratio of 61.18, a PEG ratio of 6.54 and a beta of 2.29. The business has a 50 day simple moving average of $225.43 and a two-hundred day simple moving average of $203.61.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts anticipate that Tesla will post 1.75 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after purchasing an additional 206,248 shares during the period. Morse Asset Management Inc boosted its position in Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after buying an additional 3,462 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in Tesla by 7.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after buying an additional 1,943 shares during the last quarter. NewEdge Advisors LLC boosted its position in Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after buying an additional 27,130 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in Tesla in the first quarter valued at approximately $1,941,000. Institutional investors and hedge funds 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.