Tesla (NASDAQ:TSLA) Earns Underperform Rating from Sanford C. Bernstein

Sanford C. Bernstein reissued their underperform rating on shares of Tesla (NASDAQ:TSLA) in a research report released on Thursday morning, Benzinga reports. Sanford C. Bernstein currently has a $120.00 price target on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft restated a buy rating and issued a $295.00 price target on shares of Tesla in a research note on Tuesday, September 10th. Cantor Fitzgerald restated a neutral rating and issued a $245.00 price target on shares of Tesla in a research note on Monday, September 30th. William Blair started coverage on shares of Tesla in a report on Thursday, August 29th. They issued an outperform rating for the company. New Street Research downgraded shares of Tesla from a buy rating to a neutral rating and set a $225.00 price objective for the company. in a report on Wednesday, July 24th. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of Hold and a consensus price target of $210.54.

Tesla Trading Up 3.9 %

TSLA opened at $250.08 on Thursday. The firm has a market capitalization of $797.55 billion, a P/E ratio of 63.80, a P/E/G ratio of 6.79 and a beta of 2.29. The firm’s 50 day moving average is $224.00 and its 200-day moving average is $201.78. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. Analysts expect that Tesla will post 1.74 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently modified their holdings of the company. Stephens Inc. AR lifted its stake in shares of Tesla by 11.0% in the fourth quarter. Stephens Inc. AR now owns 37,478 shares of the electric vehicle producer’s stock valued at $9,313,000 after purchasing an additional 3,717 shares during the period. Envestnet Asset Management Inc. raised its position in Tesla by 1.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 796,687 shares of the electric vehicle producer’s stock worth $197,961,000 after acquiring an additional 14,086 shares during the last quarter. Morningstar Investment Services LLC raised its position in Tesla by 117.4% during the fourth quarter. Morningstar Investment Services LLC now owns 9,156 shares of the electric vehicle producer’s stock worth $2,318,000 after acquiring an additional 4,945 shares during the last quarter. Epoch Investment Partners Inc. raised its position in Tesla by 65.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 225,315 shares of the electric vehicle producer’s stock worth $55,986,000 after acquiring an additional 89,390 shares during the last quarter. Finally, Frank Rimerman Advisors LLC raised its position in Tesla by 19.0% during the fourth quarter. Frank Rimerman Advisors LLC now owns 7,388 shares of the electric vehicle producer’s stock worth $1,836,000 after acquiring an additional 1,179 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Company Profile

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.