Tesla, Inc. (NASDAQ:TSLA) Receives Average Recommendation of "Hold" from Brokerages

Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) have received an average recommendation of "Hold" from the thirty-eight analysts that are currently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $219.45.

A number of equities analysts recently commented on TSLA shares. Wolfe Research assumed coverage on Tesla in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. Canaccord Genuity Group upped their target price on Tesla from $254.00 to $278.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, October 24th. Truist Financial increased their target price on shares of Tesla from $236.00 to $238.00 and gave the company a "hold" rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price objective on Tesla from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 24th.

Tesla Price Performance

Shares of TSLA traded down $1.97 during trading hours on Wednesday, reaching $257.55. The stock had a trading volume of 53,762,952 shares, compared to its average volume of 94,483,008. Tesla has a 12 month low of $138.80 and a 12 month high of $273.54. The company's 50-day moving average is $232.09 and its two-hundred day moving average is $209.16. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $826.75 billion, a PE ratio of 70.56, a PEG ratio of 7.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. Research analysts expect that Tesla will post 1.75 EPS for the current year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company's stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business'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 of the company's stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,297 shares of company stock worth $3,065,866. Company insiders own 20.70% of the company's stock.

Hedge Funds Weigh In On Tesla

A number of large investors have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its holdings in Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP raised its holdings in shares of Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer's stock worth $953,505,000 after buying an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer's stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer's stock worth $416,341,000 after purchasing an additional 1,479,378 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

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.