Tesla (NASDAQ:TSLA) Downgraded by Goldman Sachs Group to Hold

Goldman Sachs Group cut shares of Tesla (NASDAQ:TSLA) to a hold rating in a research report sent to investors on Tuesday, TipRanks reports. The brokerage currently has $950.00 price target on the electric vehicle producer’s stock.

Other equities analysts have also issued reports about the company. Piper Sandler increased their price objective on Tesla from $819.00 to $939.00 and gave the company an overweight rating in a report on Thursday, April 30th. Bank of America raised Tesla to a buy rating in a report on Wednesday, May 6th. Robert W. Baird reissued a hold rating and set a $700.00 price objective on shares of Tesla in a report on Tuesday, June 16th. Royal Bank of Canada increased their target price on Tesla from $380.00 to $615.00 and gave the stock an underperform rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group increased their target price on Tesla from $650.00 to $1,200.00 and gave the stock a buy rating in a research report on Thursday, June 18th. Eleven research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $622.06.

Shares of NASDAQ TSLA opened at $1,079.81 on Tuesday. The stock has a fifty day simple moving average of $895.52 and a two-hundred day simple moving average of $676.46. Tesla has a 1-year low of $211.00 and a 1-year high of $1,027.48. The firm has a market cap of $200.16 billion, a price-to-earnings ratio of -1,213.27 and a beta of 1.14. The company has a current ratio of 1.24, a quick ratio of 0.87 and a debt-to-equity ratio of 1.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, April 29th. The electric vehicle producer reported $1.24 earnings per share for the quarter, beating the consensus estimate of ($0.36) by $1.60. Tesla had a negative return on equity of 1.86% and a negative net margin of 0.55%. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the company earned ($2.90) earnings per share. Tesla’s revenue was up 31.8% compared to the same quarter last year. Analysts forecast that Tesla will post -0.56 EPS for the current year.

In related news, SVP Andrew D. Baglino sold 300 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $991.47, for a total value of $297,441.00. Following the transaction, the senior vice president now owns 4,522 shares of the company’s stock, valued at $4,483,427.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Vaibhav Taneja sold 500 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $949.76, for a total value of $474,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,514 shares in the company, valued at approximately $2,387,696.64. The disclosure for this sale can be found here. In the last three months, insiders sold 18,198 shares of company stock worth $15,698,572. 23.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Efficient Wealth Management LLC bought a new position in Tesla in the first quarter valued at $26,000. RPG Investment Advisory LLC bought a new position in Tesla in the first quarter valued at $26,000. MCF Advisors LLC bought a new position in shares of Tesla during the first quarter valued at about $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Tesla during the first quarter valued at about $26,000. Finally, Bourgeon Capital Management LLC bought a new position in shares of Tesla during the first quarter valued at about $26,000. 50.40% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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