Tesla (TSLA) Stock Rating Reaffirmed by Goldman Sachs Group

Goldman Sachs Group reaffirmed their sell rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Tuesday. The firm currently has a $195.00 price objective on the electric vehicle producer’s stock.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Tesla from a sell rating to a hold rating in a research report on Thursday, April 12th. KeyCorp reiterated a hold rating on shares of Tesla in a research report on Thursday, May 3rd. Sanford C. Bernstein reiterated a neutral rating and set a $265.00 price objective on shares of Tesla in a research report on Friday, June 22nd. Jefferies Financial Group reiterated a sell rating and set a $250.00 price objective on shares of Tesla in a research report on Monday, March 19th. Finally, BidaskClub upgraded shares of Tesla from a sell rating to a hold rating in a research report on Wednesday, May 2nd. Eleven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $299.36.

Tesla opened at $342.00 on Tuesday, Marketbeat reports. The company has a market cap of $56.65 billion, a P/E ratio of -29.79 and a beta of 0.88. Tesla has a 1 year low of $244.59 and a 1 year high of $389.61. The company has a quick ratio of 0.44, a current ratio of 0.74 and a debt-to-equity ratio of 1.65.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, May 2nd. The electric vehicle producer reported ($3.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.40) by ($0.95). The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.30 billion. Tesla had a negative return on equity of 40.72% and a negative net margin of 18.77%. Tesla’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.33) earnings per share. research analysts expect that Tesla will post -10.94 earnings per share for the current fiscal year.

In other news, CEO Elon Musk acquired 55,000 shares of Tesla stock in a transaction dated Tuesday, June 12th. The shares were bought at an average cost of $343.19 per share, with a total value of $18,875,450.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP John Douglas Field sold 3,000 shares of the company’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $359.27, for a total transaction of $1,077,810.00. Following the completion of the sale, the vice president now directly owns 20,964 shares in the company, valued at $7,531,736.28. The disclosure for this sale can be found here. Corporate insiders own 22.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its stake in Tesla by 20.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 895 shares of the electric vehicle producer’s stock worth $279,000 after acquiring an additional 155 shares in the last quarter. Global Financial Private Capital LLC boosted its stake in Tesla by 4.5% during the first quarter. Global Financial Private Capital LLC now owns 3,952 shares of the electric vehicle producer’s stock worth $1,052,000 after acquiring an additional 171 shares in the last quarter. Financial Advocates Investment Management boosted its stake in Tesla by 4.8% during the first quarter. Financial Advocates Investment Management now owns 3,864 shares of the electric vehicle producer’s stock worth $1,028,000 after acquiring an additional 176 shares in the last quarter. FCG Advisors LLC boosted its stake in Tesla by 26.6% during the first quarter. FCG Advisors LLC now owns 881 shares of the electric vehicle producer’s stock worth $234,000 after acquiring an additional 185 shares in the last quarter. Finally, Miracle Mile Advisors LLC boosted its stake in Tesla by 23.7% during the first quarter. Miracle Mile Advisors LLC now owns 1,001 shares of the electric vehicle producer’s stock worth $266,000 after acquiring an additional 192 shares in the last quarter. 60.68% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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