Tesla (NASDAQ:TSLA) Rating Reiterated by Morgan Stanley

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating reaffirmed by equities researchers at Morgan Stanley in a report released on Thursday, Benzinga reports. They presently have a $310.00 price objective on the electric vehicle producer’s stock. Morgan Stanley’s target price would suggest a potential upside of 23.96% from the stock’s previous close.

Other analysts have also issued reports about the stock. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and upped their price objective for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Stifel Nicolaus initiated coverage on shares of Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Truist Financial increased their target price on Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a report on Thursday. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Friday, July 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $210.54.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $250.08 on Thursday. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a fifty day moving average price of $224.00 and a two-hundred day moving average price of $201.39. The firm has a market cap of $798.92 billion, a P/E ratio of 63.80, a PEG ratio of 6.79 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Research analysts forecast that Tesla will post 1.74 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 over the last three months. 25.10% of the stock is currently owned by insiders.

Institutional Trading of Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stephens Inc. AR grew its position in Tesla by 11.0% in the fourth quarter. Stephens Inc. AR now owns 37,478 shares of the electric vehicle producer’s stock valued at $9,313,000 after acquiring an additional 3,717 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Tesla by 1.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 796,687 shares of the electric vehicle producer’s stock worth $197,961,000 after purchasing an additional 14,086 shares in the last quarter. Morningstar Investment Services LLC lifted its holdings in Tesla by 117.4% during the 4th quarter. Morningstar Investment Services LLC now owns 9,156 shares of the electric vehicle producer’s stock valued at $2,318,000 after purchasing an additional 4,945 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in Tesla by 65.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 225,315 shares of the electric vehicle producer’s stock valued at $55,986,000 after buying an additional 89,390 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its stake in Tesla by 19.0% during the fourth quarter. Frank Rimerman Advisors LLC now owns 7,388 shares of the electric vehicle producer’s stock worth $1,836,000 after buying an additional 1,179 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

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.