Tesla, Inc. (NASDAQ:TSLA) Given Average Recommendation of “Hold” by Brokerages

Tesla, Inc. (NASDAQ:TSLA) has received a consensus rating of “Hold” from the forty-one analysts that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $395.2022.

Several brokerages have recently commented on TSLA. China Renaissance lowered their target price on shares of Tesla from $382.00 to $372.00 and set a “hold” rating for the company in a report on Monday, April 27th. Canaccord Genuity Group increased their target price on shares of Tesla from $420.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. DZ Bank upgraded shares of Tesla from a “sell” rating to a “hold” rating and set a $385.00 price objective for the company in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Tesla in a research report on Monday, April 27th. Finally, Truist Financial lowered their target price on shares of Tesla from $438.00 to $400.00 and set a “hold” rating on the stock in a research note on Thursday, April 2nd.

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. This represents a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 57,482 shares of company stock worth $21,508,331 over the last three months. Insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently bought and sold shares of the business. Security Financial Services INC. grew its stake in shares of Tesla by 6.6% during the 1st quarter. Security Financial Services INC. now owns 1,559 shares of the electric vehicle producer’s stock valued at $580,000 after purchasing an additional 97 shares during the period. Westshore Wealth LLC boosted its position in shares of Tesla by 9.1% during the 1st quarter. Westshore Wealth LLC now owns 883 shares of the electric vehicle producer’s stock valued at $328,000 after acquiring an additional 74 shares during the last quarter. Serenity Investment Advisors bought a new position in shares of Tesla during the 1st quarter valued at approximately $213,000. Glenmede Trust Co. NA increased its position in shares of Tesla by 7.2% during the 1st quarter. Glenmede Trust Co. NA now owns 77,703 shares of the electric vehicle producer’s stock valued at $28,886,000 after purchasing an additional 5,223 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC boosted its stake in Tesla by 2.6% during the first quarter. Summit Financial Wealth Advisors LLC now owns 5,265 shares of the electric vehicle producer’s stock worth $1,957,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 1.6%

Tesla stock opened at $440.36 on Thursday. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. Tesla has a 12-month low of $273.21 and a 12-month high of $498.83. The firm’s fifty day moving average is $390.12 and its 200 day moving average is $416.18. The company has a market capitalization of $1.65 trillion, a PE ratio of 404.00, a PEG ratio of 17.12 and a beta of 1.79.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The firm had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. As a group, sell-side analysts predict that Tesla will post 1.2 EPS for the current fiscal year.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European sales momentum appears to be improving, with multiple reports citing April registrations up sharply year over year and suggesting the EV business is regaining traction after a long slump. Tesla Logs Strong Growth in European Monthly Sales
• Positive Sentiment: Wall Street is also focusing on Tesla’s robotaxi and Optimus opportunities, with coverage saying a new patent could protect future revenue drivers and that the stock is approaching a technical breakout setup. Tesla Patent Could Protect Two Biggest Future Revenue Drivers: Here’s Why ‘Lens Cleaning System’ May Matter
• Positive Sentiment: Renewed speculation around a possible SpaceX-Tesla tie-up is adding excitement, with reports and commentary suggesting the rumored SpaceX IPO could become a major long-term catalyst for Tesla shareholders. SpaceX-Tesla merger chatter reignites as Musk pushes rocket company towards Nasdaq

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.