Tesla’s (TSLA) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Tesla (NASDAQ:TSLA) in a report published on Thursday morning, Benzinga reports. The brokerage currently has a $300.00 price objective on the electric vehicle producer’s stock.

Several other analysts also recently weighed in on TSLA. Citigroup reissued a neutral rating on shares of Tesla in a research report on Wednesday, June 12th. Cantor Fitzgerald restated an overweight rating and issued a $230.00 target price on shares of Tesla in a research note on Monday, July 1st. Oppenheimer reiterated a market perform rating on shares of Tesla in a research note on Tuesday, July 9th. Stifel Nicolaus started coverage on Tesla in a report on Tuesday, June 25th. They set a buy rating and a $265.00 target price for the company. Finally, Morgan Stanley reissued an overweight rating and set a $310.00 price target on shares of Tesla in a research report on Wednesday, July 10th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $201.58.

Tesla Trading Up 3.0 %

NASDAQ:TSLA opened at $248.23 on Thursday. The firm has a 50 day moving average of $192.75 and a 200 day moving average of $190.78. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The stock has a market capitalization of $791.66 billion, a price-to-earnings ratio of 63.32, a PEG ratio of 6.20 and a beta of 2.31.

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, hitting the consensus estimate of $0.35. The firm had revenue of $21.30 billion for 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%. As a group, sell-side analysts anticipate that Tesla will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’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 transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 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 disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently made changes to their positions in the stock. Apexium Financial LP increased its stake in Tesla by 736.8% during the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after buying an additional 21,972 shares during the period. Mount Vernon Associates Inc. MD raised its stake in shares of Tesla by 5.3% in 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 in the last quarter. Forum Financial Management LP boosted its holdings in Tesla by 19.7% in 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 purchasing an additional 3,582 shares during the period. J.W. Cole Advisors Inc. grew its stake 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 purchasing an additional 6,615 shares in the last quarter. Finally, Catalyst Financial Partners LLC increased its holdings in Tesla by 9.4% during the 4th 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. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.