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

Oppenheimer reissued their market perform rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Tuesday morning, Benzinga reports.

TSLA has been the subject of a number of other reports. Canaccord Genuity Group lifted their price objective on shares of Tesla from $222.00 to $254.00 and gave the stock a buy rating in a report on Wednesday, July 3rd. TD Cowen upped their price objective on Tesla from $160.00 to $180.00 and gave the stock a hold rating in a report on Wednesday, July 3rd. Truist Financial reissued a hold rating and set a $162.00 price objective on shares of Tesla in a report on Wednesday, July 3rd. New Street Research reaffirmed a buy rating and issued a $235.00 target price on shares of Tesla in a research note on Tuesday, June 25th. Finally, Jefferies Financial Group decreased their price target on shares of Tesla from $185.00 to $165.00 and set a hold rating on the stock in a research note on Wednesday, April 10th. Seven equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $195.39.

Tesla Price Performance

Tesla stock opened at $241.03 on Tuesday. The stock has a market cap of $768.69 billion, a price-to-earnings ratio of 61.49, a PEG ratio of 6.58 and a beta of 2.31. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $191.41 and a 200 day simple moving average of $191.76. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, research analysts forecast that Tesla will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Daymark Wealth Partners LLC raised its holdings in Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after purchasing an additional 45 shares during the period. Patten & Patten Inc. TN raised its stake in shares of Tesla by 1.1% in the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after buying an additional 48 shares during the period. Caerus Investment Advisors LLC lifted its position in shares of Tesla by 0.3% during the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock valued at $3,577,000 after buying an additional 49 shares in the last quarter. Salvus Wealth Management LLC grew its stake in shares of Tesla by 3.2% during the 4th quarter. Salvus Wealth Management LLC now owns 1,617 shares of the electric vehicle producer’s stock valued at $402,000 after acquiring an additional 50 shares during the period. Finally, Monte Financial Group LLC increased its holdings in Tesla by 3.4% in the 4th quarter. Monte Financial Group LLC now owns 1,526 shares of the electric vehicle producer’s stock worth $379,000 after acquiring an additional 50 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other 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.