Tesla (NASDAQ:TSLA) Given Sell Rating at Guggenheim

Guggenheim reissued their sell rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Tuesday morning, Benzinga reports. Guggenheim currently has a $122.00 target price on the electric vehicle producer’s stock.

Several other research analysts have also commented on the company. Robert W. Baird reiterated an outperform rating and issued a $280.00 price target on shares of Tesla in a research report on Wednesday, April 17th. Royal Bank of Canada reiterated an outperform rating and issued a $298.00 price target on shares of Tesla in a research report on Wednesday, March 27th. Truist Financial dropped their price target on Tesla from $193.00 to $176.00 and set a hold rating for the company in a research report on Wednesday, April 3rd. Edward Jones lowered Tesla from a buy rating to a hold rating in a research report on Friday, January 26th. Finally, Citigroup dropped their price target on Tesla from $196.00 to $180.00 and set a neutral rating for the company in a research report on Friday, April 12th. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $186.70.

Tesla Trading Down 1.1 %

Shares of Tesla stock opened at $168.29 on Tuesday. The firm has a market cap of $535.97 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 4.28 and a beta of 2.39. The business has a 50-day moving average price of $175.04 and a 200-day moving average price of $208.00. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla has a twelve month low of $138.80 and a twelve month high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.07 EPS. Equities research analysts anticipate that Tesla will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 over the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Large investors have recently made changes to their positions in the stock. Mount Vernon Associates Inc. MD grew its holdings in shares of Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after buying an additional 350 shares during the last quarter. Oak Ridge Investments LLC grew its holdings in shares of Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after buying an additional 1,405 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after buying an additional 25,943 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after buying an additional 6,615 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after buying an additional 81,729 shares during the last quarter. 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.