Tesla (NASDAQ:TSLA) Rating Reiterated by Roth Mkm

Roth Mkm restated their neutral rating on shares of Tesla (NASDAQ:TSLA) in a report released on Wednesday, Benzinga reports. Roth Mkm currently has a $85.00 price target on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. Jefferies Financial Group lowered their target price on Tesla from $185.00 to $165.00 and set a hold rating for the company in a report on Wednesday, April 10th. Wells Fargo & Company reissued an underweight rating and issued a $120.00 price objective on shares of Tesla in a research note on Monday, July 1st. UBS Group cut Tesla from a neutral rating to a sell rating and raised their price objective for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Canaccord Genuity Group raised their price objective on Tesla from $222.00 to $254.00 and gave the company a buy rating in a research note on Wednesday, July 3rd. Finally, Oppenheimer reissued a market perform rating on shares of Tesla in a research note on Tuesday, July 9th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of Hold and an average target price of $204.30.

Tesla Price Performance

Shares of TSLA opened at $219.80 on Wednesday. Tesla has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.17. The company has a market capitalization of $702.18 billion, a price-to-earnings ratio of 56.07, a price-to-earnings-growth ratio of 5.50 and a beta of 2.31. The business has a 50-day moving average of $205.68 and a 200-day moving average of $190.93.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. As a group, equities research analysts anticipate that Tesla will post 1.85 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was 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 $11,350,652.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Several hedge funds have recently made changes to their positions in TSLA. Norges Bank bought a new stake in shares of Tesla in the fourth quarter valued at $7,844,757,000. International Assets Investment Management LLC raised its stake in shares of Tesla by 25,990.7% during 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 period. Vanguard Group Inc. raised its stake in shares of Tesla by 1.7% during 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 period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Tesla by 2,101.1% during 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 period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. 66.20% of the stock is currently owned by institutional investors.

About Tesla

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.