Tesla (NASDAQ:TSLA) Earns “Neutral” Rating from KGI Securities

KGI Securities reaffirmed their neutral rating on shares of Tesla (NASDAQ:TSLA) in a report published on Thursday morning, Benzinga reports. They currently have a $236.00 target price on the electric vehicle producer’s stock.

Several other brokerages also recently weighed in on TSLA. Needham & Company LLC restated a hold rating on shares of Tesla in a research note on Wednesday. Cantor Fitzgerald downgraded Tesla from an overweight rating to a neutral rating and boosted their price target for the company from $230.00 to $245.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $123.00 to $136.00 and gave the company a hold rating in a research note on Thursday, April 25th. Glj Research boosted their price target on Tesla from $22.86 to $24.86 and gave the company a sell rating in a research note on Tuesday, July 23rd. Finally, Piper Sandler boosted their price target on Tesla from $205.00 to $300.00 and gave the company an overweight rating in a research note on Wednesday. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of Hold and a consensus price target of $204.30.

Tesla Stock Down 0.2 %

Shares of TSLA stock opened at $219.80 on Thursday. Tesla has a 1-year low of $138.80 and a 1-year high of $278.98. The stock’s fifty day moving average price is $205.68 and its 200 day moving average price is $190.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.17. The company has a market cap of $702.18 billion, a price-to-earnings ratio of 56.07, a price-to-earnings-growth ratio of 5.50 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts expect that Tesla will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Tesla in the fourth quarter worth approximately $7,844,757,000. International Assets Investment Management LLC grew its position in Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after acquiring an additional 6,179,032 shares during the period. Vanguard Group Inc. grew its position in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after acquiring an additional 1,402,443 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.