Tesla’s (TSLA) “Sell” Rating Reiterated at Guggenheim

Guggenheim reissued their sell rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $175.00 price target on the electric vehicle producer’s stock.

Several other equities research analysts have also issued reports on TSLA. Jefferies Financial Group upped their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Stifel Nicolaus raised their price target on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Truist Financial reaffirmed a “hold” rating and set a $360.00 price objective on shares of Tesla in a research report on Thursday, January 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $365.00 target price on shares of Tesla in a report on Wednesday. Finally, Canaccord Genuity Group upped their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $313.84.

Tesla Trading Down 2.3 %

TSLA opened at $389.10 on Wednesday. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market capitalization of $1.25 trillion, a PE ratio of 106.60, a P/E/G ratio of 8.42 and a beta of 2.30. The firm’s fifty day moving average price is $401.04 and its 200 day moving average price is $296.63.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. As a group, research analysts expect that Tesla will post 2.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. Geode Capital Management LLC grew its stake in Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares in the last quarter. FMR LLC grew its position in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after purchasing an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after buying an additional 301,968 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after acquiring an additional 1,294,093 shares in the last quarter. Hedge funds and other 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.