Oppenheimer Reiterates “Market Perform” Rating for Tesla (NASDAQ:TSLA)

Oppenheimer restated their market perform rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Wednesday, Benzinga reports.

Several other research analysts have also recently weighed in on TSLA. Wedbush reissued an outperform rating and issued a $300.00 price objective on shares of Tesla in a research report on Friday, April 19th. Wells Fargo & Company cut their price objective on Tesla from $125.00 to $120.00 and set an underweight rating on the stock in a research report on Friday, April 12th. Canaccord Genuity Group cut their price objective on Tesla from $267.00 to $234.00 and set a buy rating on the stock in a research report on Thursday, January 25th. Barclays cut their price objective on Tesla from $225.00 to $180.00 and set an equal weight rating on the stock in a research report on Wednesday, April 17th. Finally, Morgan Stanley cut their price objective on Tesla from $320.00 to $310.00 and set an overweight rating on the stock in a research report on Thursday, April 4th. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $186.22.

Tesla Trading Up 12.1 %

NASDAQ TSLA opened at $162.13 on Wednesday. The company has a market cap of $516.35 billion, a price-to-earnings ratio of 41.36, a P/E/G ratio of 3.82 and a beta of 2.39. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The business has a 50 day moving average price of $176.28 and a 200-day moving average price of $208.91. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.68%. The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts expect that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently bought and sold shares of TSLA. GHP Investment Advisors Inc. grew its position in shares of Tesla by 18.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 922 shares of the electric vehicle producer’s stock worth $232,000 after buying an additional 146 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Tesla by 73.8% during the third quarter. Exchange Traded Concepts LLC now owns 7,430 shares of the electric vehicle producer’s stock valued at $1,859,000 after purchasing an additional 3,156 shares in the last quarter. Capital Asset Advisory Services LLC boosted its position in shares of Tesla by 14.6% during the third quarter. Capital Asset Advisory Services LLC now owns 15,072 shares of the electric vehicle producer’s stock valued at $3,964,000 after purchasing an additional 1,923 shares in the last quarter. Leverty Financial Group LLC bought a new stake in shares of Tesla during the third quarter valued at approximately $213,000. Finally, Roman Butler Fullerton & Co. boosted its position in shares of Tesla by 3.8% during the third quarter. Roman Butler Fullerton & Co. now owns 1,314 shares of the electric vehicle producer’s stock valued at $330,000 after purchasing an additional 48 shares in the last quarter. 66.20% of the stock is currently owned by 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.