Tesla Inc. (TSLA) Earns “Hold” Rating from Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. reissued their hold rating on shares of Tesla Inc. (NASDAQ:TSLA) in a research note published on Monday. Oppenheimer Holdings also issued estimates for Tesla’s Q3 2017 earnings at ($3.09) EPS, Q4 2017 earnings at ($2.46) EPS and FY2017 earnings at ($9.53) EPS.
Other analysts have also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) lifted their price objective on Tesla from $180.00 to $190.00 in a research report on Friday, August 4th. BidaskClub cut Tesla from a strong-buy rating to a buy rating in a research report on Tuesday, June 20th. Guggenheim reiterated a buy rating and set a $430.00 price objective (up previously from $380.00) on shares of Tesla in a research report on Wednesday, July 5th. Vetr cut Tesla from a strong-buy rating to a buy rating and set a $358.85 price objective for the company. in a research report on Tuesday, July 11th. Finally, Berenberg Bank reiterated a buy rating on shares of Tesla in a research report on Thursday, August 3rd. Eleven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company. Tesla currently has an average rating of Hold and an average target price of $327.37.
Shares of Tesla (NASDAQ:TSLA) opened at 359.65 on Monday. Tesla has a one year low of $178.19 and a one year high of $389.61. The company has a 50 day moving average of $355.81 and a 200-day moving average of $339.51. The stock’s market cap is $60.02 billion.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The firm’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter last year, the business posted ($1.06) EPS. On average, analysts anticipate that Tesla will post ($6.56) earnings per share for the current year.
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In related news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $355.20, for a total transaction of $777,888.00. Following the completion of the transaction, the director now directly owns 158,584 shares in the company, valued at approximately $56,329,036.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total value of $15,240,299.72. Following the transaction, the director now owns 36,111 shares of the company’s stock, valued at $12,290,739.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,446 shares of company stock valued at $17,504,929. 23.10% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Pittenger & Anderson Inc. grew its stake in shares of Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after purchasing an additional 50 shares in the last quarter. Winfield Associates Inc. grew its stake in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after purchasing an additional 150 shares in the last quarter. Acropolis Investment Management LLC bought a new position in shares of Tesla in the second quarter worth $122,000. North Star Investment Management Corp. grew its stake in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after purchasing an additional 9 shares in the last quarter. Finally, Carroll Financial Associates Inc. grew its stake in shares of Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 56.62% of the company’s stock.
Tesla Company Profile
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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