Tesla (NASDAQ:TSLA) Receives Overweight Rating from Morgan Stanley

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

TSLA has been the topic of a number of other research reports. HSBC boosted their price target on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Sanford C. Bernstein restated an underperform rating and set a $120.00 price target on shares of Tesla in a research note on Monday, June 10th. China Renaissance raised shares of Tesla from a hold rating to a buy rating and set a $290.00 price objective on the stock in a report on Friday, July 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $123.00 to $136.00 and gave the company a hold rating in a report on Thursday, April 25th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Tesla in a report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, fifteen 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 $203.03.

Tesla Trading Down 4.0 %

TSLA opened at $239.20 on Thursday. Tesla has a 12 month low of $138.80 and a 12 month high of $280.93. The stock has a fifty day moving average price of $200.12 and a 200-day moving average price of $190.84. The firm has a market cap of $762.86 billion, a price-to-earnings ratio of 61.02, a PEG ratio of 5.97 and a beta of 2.31. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

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

Insider Activity

In related 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 value of $17,322,306.30. Following the sale, 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 can be accessed through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated 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 of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently modified their holdings of TSLA. Lam Group Inc. acquired a new position in Tesla during the 4th quarter worth $25,000. Bank & Trust Co purchased a new position in Tesla in the second quarter worth approximately $25,000. Mendota Financial Group LLC grew its holdings in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $37,000. Finally, Guardian Wealth Management Inc. acquired a new stake in shares of Tesla in the 4th quarter valued at $47,000. Institutional investors and hedge funds 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.