The Goldman Sachs Group Reaffirms Neutral Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reaffirmed by investment analysts at The Goldman Sachs Group in a note issued to investors on Friday, Benzinga reports. They presently have a $175.00 price objective on the electric vehicle producer’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 1.69% from the stock’s current price.

Several other research firms also recently issued reports on TSLA. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a report on Wednesday. Mizuho cut their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Canaccord Genuity Group lowered their price objective on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Guggenheim reaffirmed a “sell” rating and set a $122.00 target price on shares of Tesla in a research note on Tuesday, April 23rd. Finally, Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Wednesday, April 17th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $185.90.

Tesla Trading Down 2.4 %

Shares of TSLA stock opened at $178.01 on Friday. The company has a 50-day moving average of $172.90 and a two-hundred day moving average of $195.33. The firm has a market cap of $567.71 billion, a PE ratio of 45.41, a price-to-earnings-growth ratio of 4.53 and a beta of 2.32. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, analysts predict that Tesla will post 1.87 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,855 shares of company stock valued at $19,285,643. 25.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in TSLA. Keynote Financial Services LLC acquired a new position in Tesla in the 1st quarter valued at $412,000. OMC Financial Services LTD purchased a new stake in shares of Tesla in the first quarter valued at about $1,068,000. EverSource Wealth Advisors LLC increased its stake in shares of Tesla by 201.3% during the first quarter. EverSource Wealth Advisors LLC now owns 53,998 shares of the electric vehicle producer’s stock worth $9,896,000 after acquiring an additional 36,075 shares during the period. Westwood Holdings Group Inc. raised its holdings in Tesla by 466.9% during the first quarter. Westwood Holdings Group Inc. now owns 15,799 shares of the electric vehicle producer’s stock worth $2,777,000 after purchasing an additional 13,012 shares in the last quarter. Finally, Objective Capital Management LLC lifted its position in Tesla by 8.7% in the first quarter. Objective Capital Management LLC now owns 1,935 shares of the electric vehicle producer’s stock valued at $340,000 after purchasing an additional 155 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.