Tesla (NASDAQ:TSLA) Rating Reiterated by Oppenheimer

Oppenheimer reissued their market perform rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Wednesday morning, Benzinga reports.

A number of other analysts also recently weighed in on the stock. UBS Group decreased their target price on shares of Tesla from $225.00 to $165.00 and set a neutral rating for the company in a research report on Thursday, March 14th. Canaccord Genuity Group reduced their price objective on shares of Tesla from $267.00 to $234.00 and set a buy rating for the company in a research report on Thursday, January 25th. JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $130.00 to $115.00 and set an underweight rating for the company in a research report on Wednesday, April 3rd. Royal Bank of Canada reaffirmed an outperform rating and set a $298.00 price objective on shares of Tesla in a research report on Wednesday, March 27th. Finally, Edward Jones downgraded shares of Tesla from a buy rating to a hold rating in a research report on Friday, January 26th. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $186.70.

Tesla Stock Performance

NASDAQ:TSLA opened at $168.29 on Wednesday. The company has a market capitalization of $535.97 billion, a PE ratio of 42.93, a P/E/G ratio of 4.28 and a beta of 2.39. The company has a 50 day simple moving average of $175.04 and a two-hundred day simple moving average of $208.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 EPS. Research analysts anticipate that Tesla will post 1.97 earnings per share for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value 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. In the last three months, insiders have sold 209,098 shares of company stock worth $38,802,534. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wyrmwood Management LLC purchased a new position in Tesla during the 4th quarter valued at about $25,000. Lam Group Inc. purchased a new position in Tesla during the 4th quarter valued at about $25,000. Mendota Financial Group LLC grew its holdings in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV grew its holdings in Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in Tesla during the 4th quarter valued at about $37,000. 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.