Tesla (TSLA) Given “Overweight” Rating at Piper Jaffray Companies

Piper Jaffray Companies reissued their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research note released on Thursday morning, The Fly reports. The firm currently has a $396.00 target price on the electric vehicle producer’s stock.

Other research analysts have also recently issued reports about the stock. Nord/LB restated a sell rating and issued a $230.00 price objective on shares of Tesla in a research report on Tuesday, September 11th. Oppenheimer restated a buy rating and issued a $385.00 price objective on shares of Tesla in a research report on Monday, October 1st. Sanford C. Bernstein set a $325.00 price objective on shares of Tesla and gave the stock a neutral rating in a research report on Friday, September 28th. Goldman Sachs Group restated a sell rating and issued a $195.00 price objective on shares of Tesla in a research report on Monday, July 30th. Finally, Macquarie began coverage on shares of Tesla in a research report on Monday, October 8th. They issued an outperform rating and a $430.00 price objective on the stock. Thirteen analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the stock. Tesla presently has a consensus rating of Hold and a consensus target price of $316.85.

Shares of TSLA opened at $330.90 on Thursday. Tesla has a twelve month low of $244.59 and a twelve month high of $387.46. The company has a current ratio of 0.73, a quick ratio of 0.37 and a debt-to-equity ratio of 2.01.



Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.77) by $4.67. Tesla had a negative return on equity of 34.62% and a negative net margin of 10.22%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $5.67 billion. As a group, sell-side analysts expect that Tesla will post -10.77 earnings per share for the current year.

In other Tesla news, insider Jerome M. Guillen sold 1,000 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $306.00, for a total transaction of $306,000.00. Following the transaction, the insider now directly owns 8,598 shares in the company, valued at $2,630,988. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 1,875 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $306.00, for a total transaction of $573,750.00. Following the transaction, the director now owns 150,208 shares in the company, valued at $45,963,648. The disclosure for this sale can be found here. 22.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwest Wealth Management LLC purchased a new stake in shares of Tesla during the second quarter valued at approximately $103,000. Stelac Advisory Services LLC purchased a new stake in shares of Tesla during the second quarter valued at approximately $114,000. BerganKDV Wealth Management LLC purchased a new stake in shares of Tesla during the second quarter valued at approximately $124,000. Mogy Joel R Investment Counsel Inc. purchased a new stake in shares of Tesla during the second quarter valued at approximately $201,000. Finally, Goodwin Daniel L purchased a new stake in shares of Tesla during the second quarter valued at approximately $206,000. Institutional investors and hedge funds own 62.18% of the company’s stock.

About Tesla

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments.

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