Tesla (NASDAQ:TSLA) Given "Hold" Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Tesla (NASDAQ:TSLA - Free Report) in a research report released on Monday morning,Benzinga reports.

A number of other research firms have also recently commented on TSLA. Glj Research restated a "sell" rating and set a $24.86 target price on shares of Tesla in a research report on Friday, January 3rd. KGI Securities upgraded Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Piper Sandler lifted their price objective on Tesla from $315.00 to $500.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Phillip Securities cut Tesla from a "moderate sell" rating to a "strong sell" rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $440.00 price objective on shares of Tesla in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of "Hold" and a consensus target price of $326.50.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $19.43 during trading on Monday, reaching $355.94. 88,948,549 shares of the company traded hands, compared to its average volume of 77,848,961. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.14 trillion, a P/E ratio of 174.48, a PEG ratio of 6.22 and a beta of 2.34. The firm's fifty day simple moving average is $407.25 and its 200 day simple moving average is $306.44.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts anticipate that Tesla will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company's stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 635,776 shares of company stock valued at $231,335,112 over the last quarter. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board grew its stake in shares of Tesla by 13.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,223,815 shares of the electric vehicle producer's stock worth $898,065,000 after acquiring an additional 265,437 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new position in shares of Tesla in the fourth quarter worth $646,000. Strategic Investment Solutions Inc. IL grew its stake in shares of Tesla by 12.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 5,439 shares of the electric vehicle producer's stock worth $2,068,000 after acquiring an additional 581 shares in the last quarter. First Commonwealth Financial Corp PA acquired a new position in shares of Tesla in the fourth quarter worth $1,301,000. Finally, Capital Square LLC grew its stake in shares of Tesla by 8.0% in the fourth quarter. Capital Square LLC now owns 880 shares of the electric vehicle producer's stock worth $358,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

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.