Tesla’s (TSLA) Underweight Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company restated their underweight rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Monday, Benzinga reports. They currently have a $120.00 price target on the electric vehicle producer’s stock.

Other research analysts have also recently issued reports about the company. Mizuho lowered their price target on Tesla from $195.00 to $180.00 and set a neutral rating on the stock in a report on Wednesday, April 24th. Royal Bank of Canada decreased their price objective on Tesla from $293.00 to $227.00 and set an outperform rating on the stock in a report on Thursday, June 20th. Stifel Nicolaus started coverage on Tesla in a report on Tuesday, June 25th. They set a buy rating and a $265.00 price objective on the stock. Evercore ISI decreased their price objective on Tesla from $155.00 to $145.00 and set an in-line rating on the stock in a report on Monday, April 29th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, June 20th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $189.47.

Tesla Stock Up 6.5 %

NASDAQ TSLA opened at $246.39 on Monday. The stock’s 50 day moving average is $182.57 and its 200 day moving average is $191.32. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29. The stock has a market cap of $785.79 billion, a PE ratio of 62.85, a P/E/G ratio of 5.74 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Research analysts predict that Tesla will post 1.86 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently made changes to their positions in the stock. Hudson Valley Investment Advisors Inc. ADV lifted its stake in shares of Tesla by 9.6% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 3,841 shares of the electric vehicle producer’s stock worth $760,000 after purchasing an additional 337 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Tesla by 35.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 49,567 shares of the electric vehicle producer’s stock worth $9,808,000 after purchasing an additional 13,081 shares during the last quarter. First Hawaiian Bank lifted its stake in shares of Tesla by 2.0% during the 2nd quarter. First Hawaiian Bank now owns 7,296 shares of the electric vehicle producer’s stock worth $1,444,000 after purchasing an additional 144 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Tesla by 48.3% during the 2nd quarter. GAMMA Investing LLC now owns 14,682 shares of the electric vehicle producer’s stock worth $2,905,000 after purchasing an additional 4,781 shares during the last quarter. Finally, Transcend Capital Advisors LLC raised its stake in Tesla by 3.9% in the second quarter. Transcend Capital Advisors LLC now owns 14,638 shares of the electric vehicle producer’s stock valued at $2,897,000 after buying an additional 546 shares during the last quarter. 66.20% of the stock is currently 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.