UBS Group Reiterates “Sell” Rating for Tesla (TSLA)
Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reiterated by UBS Group in a note issued to investors on Friday, www.boersen-zeitung.de reports. They presently have a $220.00 price target on the electric vehicle producer’s stock. UBS Group’s price target would indicate a potential downside of 20.12% from the company’s previous close.
Several other analysts also recently weighed in on the company. Oppenheimer raised their target price on Tesla from $418.00 to $437.00 and gave the company an “outperform” rating in a research note on Thursday, January 31st. Berenberg Bank set a $500.00 target price on Tesla and gave the company a “buy” rating in a research note on Friday, March 1st. Canaccord Genuity upgraded Tesla from a “hold” rating to a “buy” rating and raised their target price for the company from $330.00 to $450.00 in a research note on Monday, February 11th. Goldman Sachs Group restated a “sell” rating and set a $225.00 target price on shares of Tesla in a research note on Tuesday, January 22nd. Finally, JPMorgan Chase & Co. set a $220.00 target price on Tesla and gave the company a “sell” rating in a research note on Thursday, January 3rd. Fifteen investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $327.95.
Shares of Tesla stock opened at $275.43 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.83 and a quick ratio of 0.52. The stock has a market cap of $48.94 billion, a PE ratio of -48.15, a price-to-earnings-growth ratio of 4.95 and a beta of 0.37. Tesla has a 1-year low of $244.59 and a 1-year high of $387.46.
In other Tesla news, insider Jeffrey B. Straubel sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $325.64, for a total value of $4,884,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Antonio J. Gracias sold 16,780 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $285.46, for a total transaction of $4,790,018.80. Following the completion of the transaction, the director now directly owns 16,792 shares in the company, valued at approximately $4,793,444.32. The disclosure for this sale can be found here. Insiders sold 124,130 shares of company stock valued at $39,063,084 over the last quarter. Insiders own 22.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of TSLA. Toronto Dominion Bank lifted its holdings in Tesla by 12.6% in the third quarter. Toronto Dominion Bank now owns 14,211 shares of the electric vehicle producer’s stock worth $3,762,000 after acquiring an additional 1,585 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Tesla by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 19,403 shares of the electric vehicle producer’s stock worth $5,137,000 after acquiring an additional 361 shares during the last quarter. MML Investors Services LLC lifted its holdings in Tesla by 19.8% in the third quarter. MML Investors Services LLC now owns 9,650 shares of the electric vehicle producer’s stock worth $2,555,000 after acquiring an additional 1,598 shares during the last quarter. Tobam bought a new position in Tesla in the third quarter worth about $4,039,000. Finally, Piedmont Investment Advisors Inc. lifted its holdings in Tesla by 128.4% in the third quarter. Piedmont Investment Advisors Inc. now owns 9,816 shares of the electric vehicle producer’s stock worth $2,599,000 after acquiring an additional 5,518 shares during the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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