Tesla (TSLA) Downgraded by ValuEngine

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ValuEngine downgraded shares of Tesla (NASDAQ:TSLA) from a buy rating to a hold rating in a report released on Friday morning.

TSLA has been the subject of a number of other reports. JMP Securities reaffirmed a buy rating and issued a $412.00 price objective on shares of Tesla in a research note on Thursday, October 25th. Morgan Stanley reaffirmed an equal weight rating and issued a $283.00 price objective (down from $291.00) on shares of Tesla in a research note on Tuesday, February 5th. Canaccord Genuity lifted their price objective on Tesla from $316.00 to $323.00 and gave the company a hold rating in a research note on Thursday, October 25th. BidaskClub cut Tesla from a buy rating to a hold rating in a research note on Tuesday, December 18th. Finally, Cowen set a $200.00 target price on Tesla and gave the company a sell rating in a report on Friday, January 18th. Fourteen research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $325.03.

Shares of NASDAQ TSLA opened at $305.80 on Friday. Tesla has a twelve month low of $244.59 and a twelve month high of $387.46. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $52.52 billion, a PE ratio of -53.46, a PEG ratio of 4.61 and a beta of 0.56.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 30th. The electric vehicle producer reported $1.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.93. Tesla had a negative return on equity of 19.08% and a negative net margin of 4.55%. The business had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.09 billion. During the same period in the previous year, the firm posted ($3.04) earnings per share. The company’s revenue was up 119.8% on a year-over-year basis. As a group, research analysts anticipate that Tesla will post 1.89 EPS for the current year.

In other Tesla news, Director Antonio J. Gracias sold 8,390 shares of Tesla stock in a transaction dated Friday, December 21st. The stock was sold at an average price of $317.58, for a total transaction of $2,664,496.20. Following the completion of the sale, the director now directly owns 24,332 shares of the company’s stock, valued at approximately $7,727,356.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda Johnson Rice sold 1,700 shares of Tesla stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $320.00, for a total value of $544,000.00. Following the sale, the director now directly owns 1,700 shares of the company’s stock, valued at $544,000. The disclosure for this sale can be found here. Insiders have sold a total of 83,070 shares of company stock valued at $26,968,398 over the last ninety days. 22.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Tesla by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,036,426 shares of the electric vehicle producer’s stock valued at $1,863,034,000 after purchasing an additional 59,018 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Tesla by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 7,036,426 shares of the electric vehicle producer’s stock valued at $1,863,034,000 after purchasing an additional 59,018 shares during the last quarter. Capital World Investors lifted its holdings in shares of Tesla by 11.9% in the 3rd quarter. Capital World Investors now owns 6,817,290 shares of the electric vehicle producer’s stock valued at $1,805,014,000 after purchasing an additional 726,703 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Tesla by 10.5% in the 4th quarter. Jennison Associates LLC now owns 5,322,358 shares of the electric vehicle producer’s stock valued at $1,771,281,000 after purchasing an additional 505,076 shares during the last quarter. Finally, Primecap Management Co. CA lifted its holdings in shares of Tesla by 1.0% in the 3rd quarter. Primecap Management Co. CA now owns 1,106,015 shares of the electric vehicle producer’s stock valued at $292,840,000 after purchasing an additional 10,900 shares during the last quarter. 57.20% of the stock is owned by institutional investors.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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