Tesla (NASDAQ:TSLA) Rating Reiterated by Piper Sandler

Piper Sandler reissued their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Monday morning, Benzinga reports. Piper Sandler currently has a $205.00 price objective on the electric vehicle producer’s stock.

A number of other equities analysts also recently commented on the company. Canaccord Genuity Group reduced their price objective on Tesla from $267.00 to $234.00 and set a buy rating on the stock in a research report on Thursday, January 25th. Wedbush reiterated an outperform rating and set a $300.00 price objective on shares of Tesla in a research report on Friday, April 19th. UBS Group reduced their price objective on Tesla from $225.00 to $165.00 and set a neutral rating on the stock in a research report on Thursday, March 14th. KGI Securities reiterated a neutral rating and set a $213.00 price objective (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Finally, Edward Jones downgraded Tesla from a buy rating to a hold rating in a research report on Friday, January 26th. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $186.70.

Tesla Stock Performance

NASDAQ TSLA opened at $170.18 on Monday. The company has a market cap of $541.99 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. The stock’s 50 day simple moving average is $175.67 and its 200-day simple moving average is $208.64. 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 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLA) last released its earnings results 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). The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.68%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 EPS. As a group, equities research analysts anticipate that Tesla will post 1.97 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,098 shares of company stock worth $38,802,534. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors have recently bought and sold shares of TSLA. Wyrmwood Management LLC purchased a new stake in Tesla during the 4th quarter worth about $25,000. Lam Group Inc. purchased a new stake in Tesla during the 4th quarter worth about $25,000. Mendota Financial Group LLC lifted its holdings in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV lifted its holdings in Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 69 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter worth about $37,000. 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.