Stifel Nicolaus Initiates Coverage on Tesla (NASDAQ:TSLA)

Equities research analysts at Stifel Nicolaus assumed coverage on shares of Tesla (NASDAQ:TSLAGet Free Report) in a research note issued to investors on Tuesday, Benzinga reports. The firm set a “buy” rating and a $265.00 price target on the electric vehicle producer’s stock. Stifel Nicolaus’ target price points to a potential upside of 41.45% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Wednesday, April 24th. Barclays decreased their target price on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, June 10th. Guggenheim reaffirmed a “sell” rating and set a $126.00 price target on shares of Tesla in a research note on Tuesday. Finally, Royal Bank of Canada decreased their price target on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $187.30.

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Tesla Price Performance

Shares of Tesla stock traded up $4.77 on Tuesday, hitting $187.35. 62,880,559 shares of the company traded hands, compared to its average volume of 95,506,711. The firm’s 50-day simple moving average is $174.41 and its 200 day simple moving average is $192.65. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The company has a market cap of $597.50 billion, a P/E ratio of 47.79, a P/E/G ratio of 4.54 and a beta of 2.32. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Analysts expect that Tesla will post 1.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 104,855 shares of company stock worth $19,285,643 in the last three months. Corporate insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Tesla in the 4th quarter valued at approximately $7,844,757,000. International Assets Investment Management LLC raised its position in shares of Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares during the last quarter. Morgan Stanley raised its position in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Tesla by 2,101.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

About Tesla

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Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

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