Tesla (NASDAQ:TSLA) Receives “Overweight” Rating from Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Monday, Benzinga reports. Morgan Stanley currently has a $310.00 target price on the electric vehicle producer’s stock.

Other equities analysts have also recently issued reports about the company. KGI Securities reiterated a neutral rating and set a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. China Renaissance raised Tesla from a hold rating to a buy rating and set a $290.00 price objective for the company in a research note on Friday, July 5th. JPMorgan Chase & Co. reduced their price objective on Tesla from $130.00 to $115.00 and set an underweight rating for the company in a research note on Wednesday, April 3rd. Citigroup reduced their price objective on Tesla from $274.00 to $258.00 and set a neutral rating for the company in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald lowered Tesla from an overweight rating to a neutral rating and raised their price objective for the stock from $230.00 to $245.00 in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $204.30.

Tesla Stock Up 4.2 %

Shares of TSLA stock opened at $232.07 on Monday. Tesla has a 1 year low of $138.80 and a 1 year high of $278.98. The stock has a market cap of $741.38 billion, a PE ratio of 59.20, a price-to-earnings-growth ratio of 6.00 and a beta of 2.31. The business’s fifty day moving average is $208.58 and its 200-day moving average is $190.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $24.38 billion. During the same quarter last year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts expect that Tesla will post 1.79 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,719 shares of company stock worth $32,032,968. Company insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently added to or reduced their stakes in the stock. Montag A & Associates Inc. boosted its holdings in Tesla by 33.6% during the second quarter. Montag A & Associates Inc. now owns 4,256 shares of the electric vehicle producer’s stock valued at $842,000 after purchasing an additional 1,071 shares in the last quarter. CCG Wealth Management LLC boosted its holdings in Tesla by 4.8% during the second quarter. CCG Wealth Management LLC now owns 6,519 shares of the electric vehicle producer’s stock valued at $1,290,000 after purchasing an additional 297 shares in the last quarter. Berry Wealth Group LP boosted its holdings in Tesla by 4.2% during the second quarter. Berry Wealth Group LP now owns 1,486 shares of the electric vehicle producer’s stock valued at $294,000 after purchasing an additional 60 shares in the last quarter. Cascade Financial Partners LLC boosted its holdings in Tesla by 3.2% during the second quarter. Cascade Financial Partners LLC now owns 25,940 shares of the electric vehicle producer’s stock valued at $5,133,000 after purchasing an additional 800 shares in the last quarter. Finally, Essex Financial Services Inc. boosted its holdings in Tesla by 9.5% during the second quarter. Essex Financial Services Inc. now owns 32,907 shares of the electric vehicle producer’s stock valued at $6,512,000 after purchasing an additional 2,855 shares in the last quarter. 66.20% of the stock is 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.