Tesla (NASDAQ:TSLA) Rating Reiterated by Wells Fargo & Company

Tesla (NASDAQ:TSLA)‘s stock had its “underweight” rating reiterated by research analysts at Wells Fargo & Company in a research note issued to investors on Monday, Benzinga reports. They currently have a $120.00 target price on the electric vehicle producer’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 48.11% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. HSBC reduced their price target on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 24th. JPMorgan Chase & Co. reduced their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Royal Bank of Canada cut their target price on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Finally, Stifel Nicolaus assumed coverage on Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price on the stock. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $187.30.

Tesla Stock Performance

Shares of TSLA stock opened at $231.26 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The stock has a 50 day moving average price of $179.16 and a two-hundred day moving average price of $191.09. The company has a market capitalization of $737.53 billion, a P/E ratio of 58.99, a PEG ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Analysts expect that Tesla will post 1.86 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’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 sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently bought and sold shares of the company. Wyrmwood Management LLC purchased a new position in Tesla during the 4th quarter worth $25,000. Lam Group Inc. purchased a new stake in Tesla during the 4th quarter valued at about $25,000. Mendota Financial Group LLC grew its stake in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter valued at about $37,000. Finally, Guardian Wealth Management Inc. purchased a new stake in Tesla during the 4th quarter valued at about $47,000. 66.20% of the stock is 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.