Tesla’s (TSLA) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Tesla (NASDAQ:TSLA) in a research report report published on Wednesday morning, Benzinga reports.

Several other brokerages have also commented on TSLA. Royal Bank of Canada reissued an outperform rating and set a $298.00 price objective on shares of Tesla in a report on Wednesday, March 27th. JPMorgan Chase & Co. cut their price objective on Tesla from $130.00 to $115.00 and set an underweight rating for the company in a report on Wednesday, April 3rd. Redburn Atlantic assumed coverage on Tesla in a report on Wednesday, January 24th. They set a sell rating and a $170.00 price objective for the company. Piper Sandler reissued an overweight rating and set a $205.00 price objective on shares of Tesla in a report on Monday, April 22nd. Finally, Bank of America raised Tesla from a neutral rating to a buy rating and set a $220.00 price objective for the company in a report on Wednesday. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $186.70.

Tesla Stock Down 1.1 %

TSLA stock opened at $168.29 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $535.97 billion, a PE ratio of 42.93, a PEG ratio of 4.28 and a beta of 2.39. Tesla has a twelve month low of $138.80 and a twelve month high of $299.29. The stock has a 50-day simple moving average of $175.04 and a two-hundred day simple moving average of $208.00.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the previous year, the firm earned $1.07 EPS. 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 fiscal year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently made changes to their positions in the company. Pinnacle Associates Ltd. boosted its position in shares of Tesla by 4.8% during the first quarter. Pinnacle Associates Ltd. now owns 64,063 shares of the electric vehicle producer’s stock valued at $11,262,000 after purchasing an additional 2,927 shares in the last quarter. Sterling Investment Counsel LLC boosted its holdings in Tesla by 86.1% in the first quarter. Sterling Investment Counsel LLC now owns 4,608 shares of the electric vehicle producer’s stock worth $810,000 after acquiring an additional 2,132 shares in the last quarter. BLB&B Advisors LLC boosted its holdings in Tesla by 54.2% in the first quarter. BLB&B Advisors LLC now owns 5,141 shares of the electric vehicle producer’s stock worth $904,000 after acquiring an additional 1,808 shares in the last quarter. MBA Advisors LLC bought a new stake in Tesla in the first quarter worth $336,000. Finally, Prestige Wealth Management Group LLC boosted its holdings in Tesla by 14.5% in the first quarter. Prestige Wealth Management Group LLC now owns 8,238 shares of the electric vehicle producer’s stock worth $1,448,000 after acquiring an additional 1,046 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

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.