Tesla (NASDAQ:TSLA) Upgraded by DZ Bank to Hold Rating

DZ Bank upgraded shares of Tesla (NASDAQ:TSLAFree Report) from a sell rating to a hold rating in a report issued on Friday, Marketbeat.com reports. The firm currently has $385.00 price target on the electric vehicle producer’s stock.

A number of other analysts have also weighed in on TSLA. Robert W. Baird reduced their target price on Tesla from $548.00 to $538.00 and set an “outperform” rating on the stock in a research note on Thursday, April 2nd. Zacks Research lowered shares of Tesla from a “hold” rating to a “strong sell” rating in a research note on Monday, March 30th. Tigress Financial started coverage on shares of Tesla in a research note on Thursday, February 12th. They issued a “buy” rating and a $550.00 price target on the stock. Canaccord Genuity Group lifted their price objective on shares of Tesla from $420.00 to $450.00 and gave the company a “buy” rating in a report on Thursday. Finally, New Street Research boosted their price objective on shares of Tesla from $520.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Eighteen investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $398.45.

Read Our Latest Stock Analysis on Tesla

Tesla Stock Up 0.7%

Shares of NASDAQ TSLA opened at $376.30 on Friday. The company has a market cap of $1.41 trillion, a P/E ratio of 345.23, a PEG ratio of 11.87 and a beta of 1.91. The firm has a 50-day simple moving average of $385.94 and a two-hundred day simple moving average of $420.76. Tesla has a 1 year low of $259.63 and a 1 year high of $498.83. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.77.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The firm had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Research analysts anticipate that Tesla will post 1.36 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,264 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $397.03, for a total transaction of $898,875.92. Following the transaction, the chief financial officer owned 18,106 shares of the company’s stock, valued at approximately $7,188,625.18. This trade represents a 11.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $359.33, for a total transaction of $9,273,947.97. Following the completion of the sale, the director directly owned 33,860 shares of the company’s stock, valued at $12,166,913.80. The trade was a 43.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,804 shares of company stock worth $20,865,598 in the last three months. Insiders own 19.90% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds have recently bought and sold shares of TSLA. Networth Advisors LLC purchased a new position in Tesla in the fourth quarter valued at about $26,000. Chapman Financial Group LLC purchased a new stake in shares of Tesla during the second quarter valued at about $26,000. Davidson Capital Management Inc. lifted its position in shares of Tesla by 79.4% during the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 27 shares during the last quarter. Friedenthal Financial boosted its holdings in shares of Tesla by 66.7% in the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 30 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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