Tesla Inc. (TSLA) Receives “Hold” Rating from KeyCorp
TSLA has been the subject of a number of other reports. Robert W. Baird reaffirmed an outperform rating and set a $368.00 price target on shares of Tesla in a report on Thursday, August 3rd. Argus raised Tesla from a hold rating to a buy rating and raised their price target for the company from $355.17 to $444.00 in a report on Tuesday, August 8th. Barclays PLC reaffirmed a sell rating on shares of Tesla in a report on Sunday, October 15th. Royal Bank of Canada dropped their price target on Tesla from $345.00 to $340.00 and set a sector perform rating for the company in a report on Thursday, November 2nd. Finally, Vetr raised Tesla from a strong sell rating to a sell rating and set a $282.88 price target for the company in a report on Thursday, November 2nd. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $330.44.
Shares of Tesla (NASDAQ:TSLA) remained flat at $$302.99 on Friday. The company had a trading volume of 4,625,400 shares, compared to its average volume of 6,399,418. Tesla has a one year low of $178.19 and a one year high of $389.61. The company has a quick ratio of 0.60, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.09) by $0.17. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the firm posted $0.71 EPS. The business’s revenue was up 29.9% on a year-over-year basis. research analysts predict that Tesla will post -11.38 earnings per share for the current year.
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In related news, VP John Douglas Field sold 600 shares of Tesla stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $301.60, for a total value of $180,960.00. Following the sale, the vice president now owns 21,424 shares of the company’s stock, valued at $6,461,478.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the completion of the sale, the director now directly owns 36,111 shares in the company, valued at approximately $12,290,739.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,782 shares of company stock worth $18,294,800. 23.10% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in TSLA. Vanguard Group Inc. increased its position in shares of Tesla by 4.9% in the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock valued at $2,251,890,000 after acquiring an additional 292,602 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in Tesla during the second quarter worth about $66,601,000. Jasper Ridge Partners L.P. grew its holdings in Tesla by 7,001.5% during the second quarter. Jasper Ridge Partners L.P. now owns 161,276 shares of the electric vehicle producer’s stock worth $58,319,000 after purchasing an additional 159,005 shares during the period. Quantitative Investment Management LLC bought a new position in Tesla during the second quarter worth about $52,108,000. Finally, Janus Henderson Group PLC grew its holdings in Tesla by 131.8% during the second quarter. Janus Henderson Group PLC now owns 241,476 shares of the electric vehicle producer’s stock worth $87,329,000 after purchasing an additional 137,318 shares during the period. 56.52% of the stock is currently owned by institutional investors and hedge funds.
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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