Tesla (NASDAQ:TSLA) Rating Reiterated by Morgan Stanley

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating reaffirmed by stock analysts at Morgan Stanley in a report issued on Wednesday, Benzinga reports. They presently have a $310.00 price target on the electric vehicle producer’s stock. Morgan Stanley’s price target would indicate a potential upside of 28.61% from the company’s previous close.

TSLA has been the subject of several other research reports. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Canaccord Genuity Group boosted their price target on Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Evercore ISI cut their price target on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, April 29th. Stifel Nicolaus began coverage on Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Finally, Royal Bank of Canada dropped their price objective on Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Seven investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $195.39.

Tesla Price Performance

Shares of Tesla stock opened at $241.03 on Wednesday. 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 firm has a market capitalization of $768.69 billion, a PE ratio of 61.49, a price-to-earnings-growth ratio of 6.58 and a beta of 2.31. The business’s 50-day moving average price is $191.41 and its 200-day moving average price is $191.76. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Sell-side analysts forecast that Tesla will post 1.85 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated 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 transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, 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 transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction, 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. 25.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wyrmwood Management LLC purchased a new stake in Tesla in the fourth quarter valued at approximately $25,000. Lam Group Inc. purchased a new stake in Tesla in the fourth quarter valued at approximately $25,000. Bank & Trust Co purchased a new stake in Tesla in the second quarter valued at approximately $25,000. Mendota Financial Group LLC raised its position in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the period. Finally, OLD Point Trust & Financial Services N A purchased a new stake in Tesla in the fourth quarter valued at approximately $37,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.