Tesla’s (TSLA) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Wednesday morning, Benzinga reports.

A number of other equities analysts also recently commented on the company. Mizuho increased their price objective on Tesla from $180.00 to $230.00 and gave the stock a neutral rating in a report on Friday, July 12th. Barclays increased their price target on shares of Tesla from $180.00 to $225.00 and gave the stock an equal weight rating in a research note on Wednesday, July 17th. Citigroup reduced their price objective on shares of Tesla from $274.00 to $258.00 and set a neutral rating for the company in a research note on Wednesday. Oppenheimer restated a market perform rating on shares of Tesla in a report on Tuesday, July 9th. Finally, New Street Research lowered Tesla from a buy rating to a neutral rating and set a $225.00 price objective on the stock. in a report on Wednesday. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $204.30.

Tesla Trading Down 0.2 %

Shares of NASDAQ:TSLA opened at $219.80 on Wednesday. The firm has a fifty day moving average of $205.68 and a two-hundred day moving average of $190.93. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla has a 12-month low of $138.80 and a 12-month high of $278.98. The firm has a market capitalization of $702.18 billion, a P/E ratio of 56.07, a price-to-earnings-growth ratio of 5.50 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the business posted $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts expect that Tesla will post 1.85 EPS for the current fiscal year.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated 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 transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the 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 transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Several large investors have recently made changes to their positions in the company. Lam Group Inc. bought a new stake in Tesla during the fourth quarter worth about $25,000. Bank & Trust Co acquired a new position in shares of Tesla in the 2nd quarter worth approximately $25,000. Mendota Financial Group LLC grew its position in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the 4th quarter valued at $37,000. Finally, Guardian Wealth Management Inc. bought a new position in Tesla in the 4th quarter valued at $47,000. Institutional investors own 66.20% of the company’s stock.

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.