Tesla (NASDAQ:TSLA) Rating Reiterated by Morgan Stanley

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating restated by research analysts at Morgan Stanley in a research report issued on Wednesday, Benzinga reports. They presently have a $310.00 price target on the electric vehicle producer’s stock. Morgan Stanley’s target price would suggest a potential upside of 28.61% from the stock’s current price.

TSLA has been the subject of a number of other research reports. The Goldman Sachs Group boosted their price target on Tesla from $175.00 to $248.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. HSBC lowered their price target on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Finally, Jefferies Financial Group lowered their price target on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $195.39.

Tesla Stock Performance

Tesla stock opened at $241.03 on Wednesday. The firm has a market capitalization of $768.69 billion, a P/E ratio of 61.49, a PEG ratio of 6.58 and a beta of 2.31. The stock has a fifty day moving average price of $191.41 and a 200 day moving average price of $191.76. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Equities research analysts anticipate that Tesla will post 1.85 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Institutional Trading of Tesla

Several large investors have recently added to or reduced their stakes in TSLA. Norges Bank acquired a new stake in Tesla in the 4th quarter valued at approximately $7,844,757,000. International Assets Investment Management LLC increased its position in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares during the period. Vanguard Group Inc. increased its position in Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Tesla by 2,101.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after acquiring an additional 1,402,443 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.