Morgan Stanley cut shares of Tesla Inc. (NASDAQ:TSLA) from an overweight rating to an equal weight rating in a report published on Monday, May 15th, MarketBeat reports. They currently have $305.00 price objective on the electric vehicle producer’s stock.
TSLA has been the topic of several other research reports. Pacific Crest restated an equal weight rating on shares of Tesla in a research note on Thursday, March 30th. Oppenheimer Holdings, Inc. restated a market perform rating on shares of Tesla in a research note on Friday, February 24th. Zacks Investment Research upgraded shares of Tesla from a sell rating to a hold rating in a research note on Tuesday, February 28th. Vetr upgraded shares of Tesla from a sell rating to a hold rating and set a $251.51 price objective for the company in a report on Thursday, February 23rd. Finally, Deutsche Bank AG reiterated a hold rating and issued a $215.00 price objective on shares of Tesla in a report on Friday, February 24th. Eight investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. Tesla presently has an average rating of Hold and an average price target of $288.17.
Tesla (NASDAQ TSLA) traded down 1.05% during mid-day trading on Monday, reaching $371.40. The company’s stock had a trading volume of 6,730,973 shares. Tesla has a one year low of $178.19 and a one year high of $384.25. The firm’s market cap is $61.01 billion. The stock’s 50 day moving average is $331.64 and its 200 day moving average is $271.08.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing the consensus estimate of ($0.67) by $1.30. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.56 billion. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. On average, analysts anticipate that Tesla will post ($5.80) EPS for the current year.
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In other news, Director Kimbal Musk sold 2,500 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $286.28, for a total value of $715,700.00. Following the transaction, the director now directly owns 170,546 shares of the company’s stock, valued at $48,823,908.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Douglas Field sold 500 shares of the stock in a transaction dated Friday, April 7th. The shares were sold at an average price of $301.45, for a total transaction of $150,725.00. The disclosure for this sale can be found here. Insiders sold 242,791 shares of company stock worth $74,745,344 over the last three months. Insiders own 23.10% of the company’s stock.
Several institutional investors have recently modified their holdings of TSLA. Crestwood Advisors Group LLC bought a new position in shares of Tesla during the first quarter valued at $101,000. Independent Advisor Alliance bought a new position in shares of Tesla during the fourth quarter valued at $102,000. Parallel Advisors LLC bought a new position in shares of Tesla during the fourth quarter valued at $104,000. SRS Capital Advisors Inc. raised its position in shares of Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after buying an additional 364 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Tesla during the first quarter valued at $122,000. 63.78% of the stock is currently owned by institutional investors.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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