Tesla (NASDAQ:TSLA) Stock Rating Reaffirmed by Wells Fargo & Company

Tesla (NASDAQ:TSLA)‘s stock had its “underweight” rating restated by research analysts at Wells Fargo & Company in a research note issued on Monday, Benzinga reports. They presently have a $120.00 price target on the electric vehicle producer’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 48.11% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday, April 24th. UBS Group dropped their price target on Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Wedbush reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Tesla in a research note on Friday, June 14th. Jefferies Financial Group dropped their price target on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $187.30.

Tesla Trading Up 10.2 %

Shares of Tesla stock opened at $231.26 on Monday. The business has a fifty day simple moving average of $179.16 and a two-hundred day simple moving average of $191.09. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a market capitalization of $737.53 billion, a price-to-earnings ratio of 58.99, a P/E/G ratio of 4.91 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Research analysts forecast that Tesla will post 1.86 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was 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 approximately $11,350,652.55. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently made changes to their positions in TSLA. Apexium Financial LP lifted its holdings in shares of Tesla by 736.8% during the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after purchasing an additional 21,972 shares in the last quarter. Mount Vernon Associates Inc. MD increased its position in Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares during the last quarter. Forum Financial Management LP increased its position in Tesla by 19.7% during the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after acquiring an additional 3,582 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after acquiring an additional 6,615 shares during the last quarter. Finally, Catalyst Financial Partners LLC increased its position in Tesla by 9.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after buying an additional 598 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other 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.