KGI Securities Reaffirms Neutral Rating for Tesla (NASDAQ:TSLA)

KGI Securities reissued their neutral rating on shares of Tesla (NASDAQ:TSLA) in a report released on Thursday morning, Benzinga reports. KGI Securities currently has a $236.00 target price on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other reports. Royal Bank of Canada dropped their price target on shares of Tesla from $293.00 to $227.00 and set an outperform rating on the stock in a research report on Thursday, June 20th. China Renaissance raised shares of Tesla from a hold rating to a buy rating and set a $290.00 price objective on the stock in a research report on Friday, July 5th. Glj Research lifted their price objective on shares of Tesla from $22.86 to $24.86 and gave the stock a sell rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald lowered shares of Tesla from an overweight rating to a neutral rating and lifted their price objective for the stock from $230.00 to $245.00 in a research report on Wednesday, July 24th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Tesla in a research report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $204.30.

Tesla Stock Down 0.2 %

Shares of NASDAQ TSLA opened at $219.80 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.17. The company has a 50-day moving average price of $205.68 and a 200-day moving average price of $190.62. Tesla has a 1 year low of $138.80 and a 1 year high of $278.98. The stock has a market capitalization of $702.18 billion, a P/E ratio of 56.07, a P/E/G ratio of 5.49 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Tesla will post 1.79 EPS for the current fiscal year.

Insider Transactions at Tesla

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

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH raised its holdings in Tesla by 30.6% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,708 shares of the electric vehicle producer’s stock worth $424,000 after purchasing an additional 400 shares in the last quarter. Blackston Financial Advisory Group LLC bought a new position in Tesla in the 4th quarter worth $3,619,000. WASHINGTON TRUST Co raised its holdings in Tesla by 30.0% in the 4th quarter. WASHINGTON TRUST Co now owns 2,421 shares of the electric vehicle producer’s stock worth $602,000 after purchasing an additional 559 shares in the last quarter. Washington Trust Advisors Inc. raised its holdings in Tesla by 34.2% in the 4th quarter. Washington Trust Advisors Inc. now owns 2,033 shares of the electric vehicle producer’s stock worth $505,000 after purchasing an additional 518 shares in the last quarter. Finally, Syntegra Private Wealth Group LLC raised its holdings in Tesla by 19.7% in the 4th quarter. Syntegra Private Wealth Group LLC now owns 1,535 shares of the electric vehicle producer’s stock worth $381,000 after purchasing an additional 253 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.