Tesla’s (TSLA) Market Perform Rating Reiterated at Oppenheimer

Tesla (NASDAQ:TSLA)‘s stock had its “market perform” rating restated by research analysts at Oppenheimer in a report released on Wednesday, Benzinga reports.

Several other equities analysts also recently weighed in on TSLA. JPMorgan Chase & Co. dropped their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Wedbush reissued an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Friday, April 19th. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Wednesday, April 17th. TD Cowen dropped their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Finally, Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $190.30.

Tesla Stock Performance

NASDAQ TSLA opened at $144.68 on Wednesday. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a market capitalization of $460.78 billion, a P/E ratio of 33.57, a PEG ratio of 3.75 and a beta of 2.39. The business has a 50 day moving average price of $176.81 and a 200 day moving average price of $209.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Sell-side analysts expect that Tesla will post 1.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 over the last ninety days. Company insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wyrmwood Management LLC bought a new position in Tesla during the fourth quarter valued at approximately $25,000. Lam Group Inc. bought a new stake in Tesla in the fourth quarter worth approximately $25,000. Mendota Financial Group LLC grew its position in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV grew its position in Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in Tesla in the fourth quarter worth approximately $37,000. 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.