Tesla’s (TSLA) “Neutral” Rating Reiterated at Mizuho

Mizuho reissued their neutral rating on shares of Tesla (NASDAQ:TSLA) in a report published on Monday morning, Marketbeat Ratings reports. The firm currently has a $195.00 price target on the electric vehicle producer’s stock, down from their previous price target of $270.00.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada restated an outperform rating and set a $297.00 target price on shares of Tesla in a report on Thursday, February 29th. Wells Fargo & Company cut shares of Tesla from an equal weight rating to an underweight rating and reduced their target price for the stock from $200.00 to $125.00 in a report on Wednesday, March 13th. Edward Jones cut shares of Tesla from a buy rating to a hold rating in a report on Friday, January 26th. Barclays reduced their target price on shares of Tesla from $250.00 to $225.00 and set an equal weight rating for the company in a report on Thursday, January 25th. Finally, Citigroup reduced their target price on shares of Tesla from $255.00 to $224.00 and set a neutral rating for the company in a report on Thursday, January 25th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of Hold and an average price target of $207.04.

Tesla Stock Up 1.2 %

Tesla stock opened at $179.83 on Monday. The stock has a market capitalization of $572.72 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 3.90 and a beta of 2.41. Tesla has a twelve month low of $152.37 and a twelve month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $188.49 and a 200-day moving average of $222.36.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. On average, equities research analysts anticipate that Tesla will post 2.44 EPS for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold 198,598 shares of company stock valued at $36,952,434 over the last ninety days. 20.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares in the last quarter. State Street Corp grew its stake in Tesla by 4.4% during the second quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock worth $27,254,286,000 after buying an additional 4,431,570 shares in the last quarter. Norges Bank acquired a new stake in Tesla during the fourth quarter worth about $7,844,757,000. Morgan Stanley grew its stake in Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares in the last quarter. Finally, FMR LLC grew its stake in Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after buying an additional 269,182 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.