Tesla’s (TSLA) Sell Rating Reaffirmed at Glj Research

Glj Research reiterated their sell rating on shares of Tesla (NASDAQ:TSLA) in a research report report published on Friday,Benzinga reports. The firm currently has a $24.86 price target on the electric vehicle producer’s stock.

Several other brokerages have also issued reports on TSLA. Canaccord Genuity Group increased their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Wolfe Research assumed coverage on Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. Finally, Wedbush restated an “outperform” rating and issued a $400.00 target price on shares of Tesla in a report on Monday, November 18th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $283.39.

Tesla Stock Up 8.2 %

Shares of Tesla stock opened at $410.44 on Friday. Tesla has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock’s 50-day moving average is $362.37 and its 200 day moving average is $273.76. The firm has a market cap of $1.32 trillion, a price-to-earnings ratio of 112.45, a PEG ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. Equities research analysts anticipate that Tesla will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 514,886 shares of company stock worth $169,393,831 in the last quarter. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in the business. World Investment Advisors LLC grew its holdings in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares in the last quarter. Destination Wealth Management lifted its position in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd grew its stake in Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares in the last quarter. MML Investors Services LLC raised its position in shares of Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after buying an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

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.