Tesla’s (TSLA) Overweight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of Tesla (NASDAQ:TSLAFree Report) in a research report sent to investors on Thursday, Benzinga reports. Morgan Stanley currently has a $310.00 price target on the electric vehicle producer’s stock.

Several other equities analysts have also recently issued reports on the company. Guggenheim reissued a sell rating and set a $122.00 target price on shares of Tesla in a research note on Tuesday, April 23rd. Citigroup reissued a neutral rating on shares of Tesla in a research report on Wednesday, June 12th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $230.00 target price on shares of Tesla in a research report on Wednesday, June 12th. Wells Fargo & Company dropped their target price on shares of Tesla from $125.00 to $120.00 and set an underweight rating for the company in a research report on Friday, April 12th. Finally, Truist Financial dropped their target price on shares of Tesla from $176.00 to $162.00 and set a hold rating for the company in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $182.68.

Read Our Latest Analysis on Tesla

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $183.01 on Thursday. The stock has a market cap of $583.65 billion, a PE ratio of 46.69, a PEG ratio of 4.50 and a beta of 2.32. The company’s fifty day moving average is $173.99 and its 200 day moving average is $193.08. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Research analysts anticipate that Tesla will post 1.87 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla 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 transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s 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 transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock valued at $19,285,643 over the last 90 days. 25.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently modified their holdings of the stock. Keynote Financial Services LLC purchased a new position in shares of Tesla in the first quarter worth $412,000. OMC Financial Services LTD purchased a new position in shares of Tesla in the first quarter worth $1,068,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Tesla by 201.3% in the first quarter. EverSource Wealth Advisors LLC now owns 53,998 shares of the electric vehicle producer’s stock worth $9,896,000 after buying an additional 36,075 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Tesla by 466.9% in the first quarter. Westwood Holdings Group Inc. now owns 15,799 shares of the electric vehicle producer’s stock worth $2,777,000 after buying an additional 13,012 shares in the last quarter. Finally, Objective Capital Management LLC lifted its holdings in shares of Tesla by 8.7% in the first quarter. Objective Capital Management LLC now owns 1,935 shares of the electric vehicle producer’s stock worth $340,000 after buying an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

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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.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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