Tesla (NASDAQ:TSLA) Earns “Overweight” Rating from Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research report report published on Thursday morning, Benzinga reports. Morgan Stanley currently has a $310.00 price objective on the electric vehicle producer’s stock.

Other equities analysts have also recently issued research reports about the stock. HSBC cut their target price on shares of Tesla from $138.00 to $120.00 and set a reduce rating on the stock in a report on Wednesday, April 24th. Cantor Fitzgerald reaffirmed an overweight rating and set a $230.00 price target on shares of Tesla in a report on Wednesday, June 12th. UBS Group cut their price target on Tesla from $160.00 to $147.00 and set a neutral rating on the stock in a report on Wednesday, April 24th. Canaccord Genuity Group cut their price target on Tesla from $234.00 to $222.00 and set a buy rating on the stock in a report on Wednesday, April 24th. Finally, Wells Fargo & Company dropped their target price on Tesla from $125.00 to $120.00 and set an underweight rating on the stock in a report on Friday, April 12th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of Hold and an average target price of $183.62.

Tesla Stock Up 0.8 %

Shares of NASDAQ TSLA opened at $183.01 on Thursday. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a market cap of $583.66 billion, a P/E ratio of 46.69, a P/E/G ratio of 4.50 and a beta of 2.32. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $173.99 and a 200 day moving average price of $193.40.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Research analysts anticipate that Tesla will post 1.87 EPS for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction 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 sale, 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 Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock valued at $19,285,643 over the last three months. 25.10% of the stock is owned by insiders.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Tesla in the 4th quarter valued at approximately $7,844,757,000. International Assets Investment Management LLC raised its position in shares of Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. Morgan Stanley raised its position in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Tesla by 2,101.1% in 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 buying an additional 1,402,443 shares in the last quarter. 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.