Tesla (NASDAQ:TSLA) Given Outperform Rating at Wedbush

Wedbush restated their outperform rating on shares of Tesla (NASDAQ:TSLA) in a research note released on Friday morning, Benzinga reports. Wedbush currently has a $275.00 price objective on the electric vehicle producer’s stock.

Several other research analysts have also recently issued reports on the company. Robert W. Baird reissued an outperform rating and issued a $280.00 price target on shares of Tesla in a research note on Wednesday, April 17th. Guggenheim reissued a sell rating and set a $122.00 target price on shares of Tesla in a research note on Tuesday, April 23rd. Mizuho decreased their target price on shares of Tesla from $195.00 to $180.00 and set a neutral rating for the company in a research note on Wednesday, April 24th. Sanford C. Bernstein reiterated an underperform rating and issued a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Finally, The Goldman Sachs Group reiterated a neutral rating and set a $175.00 price target on shares of Tesla in a report on Friday. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $185.90.

Tesla Price Performance

Shares of TSLA opened at $178.01 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market cap of $567.71 billion, a P/E ratio of 45.41, a PEG ratio of 4.41 and a beta of 2.32. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29. The stock has a fifty day moving average price of $172.90 and a 200 day moving average price of $194.98.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, research analysts forecast that Tesla will post 1.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, 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 can be accessed through this link. In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,855 shares of company stock valued at $19,285,643. 25.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently modified their holdings of the business. Apexium Financial LP raised its stake in shares of Tesla by 736.8% in the 4th 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 during the period. Mount Vernon Associates Inc. MD raised its stake in Tesla by 5.3% in the 4th 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 period. Forum Financial Management LP raised its holdings in Tesla by 19.7% in the 4th 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 period. J.W. Cole Advisors Inc. increased its position in Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after buying an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC increased its holdings in shares of Tesla by 9.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after purchasing an additional 598 shares during the period. 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.