Tesla (NASDAQ:TSLA) Earns Sell Rating from Guggenheim

Guggenheim restated their sell rating on shares of Tesla (NASDAQ:TSLA) in a research note released on Tuesday morning, Benzinga reports. They currently have a $134.00 price objective on the electric vehicle producer’s stock.

Several other research analysts have also weighed in on the company. HSBC increased their target price on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Citigroup raised their price objective on Tesla from $182.00 to $274.00 and gave the stock a neutral rating in a report on Friday, July 12th. Cantor Fitzgerald reissued an overweight rating and set a $230.00 target price on shares of Tesla in a research report on Monday. New Street Research restated a buy rating and issued a $235.00 price target on shares of Tesla in a report on Tuesday, June 25th. Finally, Oppenheimer reiterated a market perform rating on shares of Tesla in a research note on Tuesday, July 9th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of Hold and a consensus price target of $201.75.

Tesla Stock Up 2.0 %

Shares of NASDAQ TSLA opened at $220.25 on Tuesday. The firm’s 50 day moving average price is $204.83 and its 200 day moving average price is $191.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a market cap of $702.42 billion, a P/E ratio of 56.19, a price-to-earnings-growth ratio of 6.15 and a beta of 2.31. Tesla has a 1 year low of $138.80 and a 1 year high of $278.98.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.68%. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla will post 1.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Xiaotong Zhu sold 650 shares of the 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 sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in TSLA. Norges Bank acquired a new stake in shares of Tesla in the 4th quarter worth about $7,844,757,000. International Assets Investment Management LLC boosted its position in shares of Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the period. Vanguard Group Inc. grew its holdings in Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after acquiring an additional 1,402,443 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

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.