Sanford C. Bernstein Reiterates $265.00 Price Target for Tesla Inc. (TSLA)
Sanford C. Bernstein set a $265.00 target price on Tesla Inc. (NASDAQ:TSLA) in a research report released on Thursday morning. The firm currently has a neutral rating on the electric vehicle producer’s stock.
TSLA has been the subject of a number of other research reports. Bank of America Corporation dropped their target price on shares of Tesla from $170.00 to $165.00 and set an underperform rating for the company in a report on Wednesday, April 26th. Morgan Stanley reissued an overweight rating and issued a $305.00 target price on shares of Tesla in a report on Wednesday, April 26th. Guggenheim increased their target price on shares of Tesla from $320.00 to $380.00 and gave the stock a buy rating in a report on Monday, May 15th. Goldman Sachs Group, Inc. (The) reissued a sell rating on shares of Tesla in a report on Thursday, April 6th. Finally, Royal Bank Of Canada reissued a sector perform rating and issued a $314.00 target price on shares of Tesla in a report on Thursday, May 25th. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Tesla presently has a consensus rating of Hold and an average target price of $301.70.
Shares of Tesla (TSLA) opened at 335.07 on Thursday. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99. The firm has a 50-day moving average of $348.29 and a 200 day moving average of $299.70. The firm’s market cap is $55.04 billion.
Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by $1.30. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. On average, equities analysts predict that Tesla will post ($5.99) earnings per share for the current year.
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In other Tesla news, insider Jeffrey B. Straubel sold 109,100 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $307.81, for a total transaction of $33,582,071.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 4,690 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the sale, the director now directly owns 166,164 shares of the company’s stock, valued at approximately $61,095,179.52. The disclosure for this sale can be found here. Insiders have sold a total of 239,790 shares of company stock valued at $74,130,330 in the last three months. Insiders own 23.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock worth $6,804,556,000 after buying an additional 2,400,034 shares during the last quarter. Renaissance Technologies LLC boosted its position in Tesla by 117.7% in the first quarter. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer’s stock worth $188,630,000 after buying an additional 366,400 shares during the last quarter. Baillie Gifford & Co. boosted its position in Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after buying an additional 336,130 shares during the last quarter. Vanguard Group Inc. boosted its position in Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock worth $1,651,654,000 after buying an additional 280,941 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Tesla by 7.6% in the first quarter. Jennison Associates LLC now owns 2,869,480 shares of the electric vehicle producer’s stock worth $798,576,000 after buying an additional 203,034 shares during the last quarter. Hedge funds and other institutional investors own 63.78% of the company’s stock.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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