Tesla’s (TSLA) Sell Rating Reiterated at Sanford C. Bernstein

Sanford C. Bernstein reaffirmed their sell rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Wednesday morning, Borsen Zeitung reports. Sanford C. Bernstein currently has a $900.00 target price on the electric vehicle producer’s stock.

A number of other research analysts have also weighed in on the stock. Jefferies Financial Group reissued a buy rating on shares of Tesla in a research report on Thursday, July 23rd. Bank of America upped their target price on shares of Tesla from $500.00 to $800.00 and gave the company an underperform rating in a research note on Wednesday, July 22nd. ValuEngine cut shares of Tesla from a buy rating to a hold rating in a research note on Friday, May 1st. Deutsche Bank upped their target price on shares of Tesla from $1,000.00 to $1,500.00 and gave the company a hold rating in a research note on Thursday, July 23rd. Finally, Argus raised shares of Tesla from a hold rating to a buy rating in a research note on Friday, July 24th. Thirteen investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $846.94.

Tesla stock opened at $1,430.76 on Wednesday. The firm has a market cap of $265.22 billion, a price-to-earnings ratio of 745.19, a P/E/G ratio of 25.76 and a beta of 1.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.25 and a quick ratio of 0.87. Tesla has a fifty-two week low of $211.00 and a fifty-two week high of $1,794.99. The firm has a fifty day moving average price of $1,259.00 and a two-hundred day moving average price of $833.62.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $2.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.35) by $4.53. The firm had revenue of $6.04 billion during the quarter, compared to analyst estimates of $4.96 billion. Tesla had a net margin of 1.43% and a return on equity of 4.19%. During the same quarter in the previous year, the business earned ($1.12) EPS. As a group, sell-side analysts expect that Tesla will post 1.65 earnings per share for the current year.

In other news, CAO Vaibhav Taneja sold 887 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $1,558.75, for a total transaction of $1,382,611.25. Following the completion of the transaction, the chief accounting officer now directly owns 2,806 shares of the company’s stock, valued at $4,373,852.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 4,000 shares of the company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $1,456.18, for a total value of $5,824,720.00. Following the transaction, the senior vice president now directly owns 8,122 shares of the company’s stock, valued at $11,827,093.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,910 shares of company stock valued at $24,705,348. Insiders own 23.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of TSLA. Jennison Associates LLC raised its position in shares of Tesla by 10.4% in the 1st quarter. Jennison Associates LLC now owns 4,320,630 shares of the electric vehicle producer’s stock worth $2,264,010,000 after acquiring an additional 408,744 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Tesla by 0.6% during the first quarter. Primecap Management Co. CA now owns 1,545,640 shares of the electric vehicle producer’s stock worth $809,915,000 after purchasing an additional 8,510 shares in the last quarter. J.Safra Asset Management Corp increased its position in shares of Tesla by 52,300.0% during the first quarter. J.Safra Asset Management Corp now owns 1,310,000 shares of the electric vehicle producer’s stock worth $250,000 after purchasing an additional 1,307,500 shares in the last quarter. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth about $357,994,000. Finally, Legal & General Group Plc increased its position in shares of Tesla by 4.9% during the first quarter. Legal & General Group Plc now owns 774,042 shares of the electric vehicle producer’s stock worth $404,759,000 after purchasing an additional 35,997 shares in the last quarter. 50.37% of the stock is owned by institutional investors.

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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