Tesla (NASDAQ:TSLA) Rating Reiterated by Needham & Company LLC

Tesla (NASDAQ:TSLA)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports.

TSLA has been the subject of a number of other reports. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Wednesday. Citigroup lowered their price target on Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. 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. Wells Fargo & Company decreased their target price on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Finally, Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Wednesday. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $190.30.

Tesla Stock Up 1.9 %

Shares of TSLA stock opened at $144.68 on Wednesday. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29. The firm has a market cap of $460.78 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 3.75 and a beta of 2.39. The stock has a 50 day moving average of $176.81 and a 200-day moving average of $209.24. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities analysts predict that Tesla will post 1.97 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction 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 business’s stock in a transaction that occurred 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 transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GHP Investment Advisors Inc. grew its holdings in Tesla by 18.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 922 shares of the electric vehicle producer’s stock valued at $232,000 after buying an additional 146 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Tesla by 73.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,430 shares of the electric vehicle producer’s stock valued at $1,859,000 after acquiring an additional 3,156 shares during the period. Capital Asset Advisory Services LLC lifted its position in shares of Tesla by 14.6% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 15,072 shares of the electric vehicle producer’s stock valued at $3,964,000 after acquiring an additional 1,923 shares during the period. Leverty Financial Group LLC bought a new stake in shares of Tesla during the 3rd quarter valued at $213,000. Finally, Roman Butler Fullerton & Co. lifted its position in shares of Tesla by 3.8% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 1,314 shares of the electric vehicle producer’s stock valued at $330,000 after acquiring an additional 48 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

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.