The Goldman Sachs Group Reaffirms Neutral Rating for Tesla (NASDAQ:TSLA)

by · The Cerbat Gem

Tesla (NASDAQ:TSLA – Get Free Report)‘s stock had its “neutral” rating reaffirmed by The Goldman Sachs Group in a research note issued to investors on Friday, Benzinga reports. They presently have a $230.00 target price on the electric vehicle producer’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 4.47% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Wolfe Research started coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 price objective on shares of Tesla in a report on Friday, September 13th. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a report on Wednesday, July 24th. Finally, China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research note on Friday, July 5th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $210.90.

View Our Latest Report on TSLA

Tesla Stock Down 7.8 %

Shares of NASDAQ TSLA traded down $18.62 during trading on Friday, hitting $220.15. The stock had a trading volume of 95,506,945 shares, compared to its average volume of 95,003,172. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm has a fifty day moving average of $225.23 and a two-hundred day moving average of $203.30. Tesla has a 12 month low of $138.80 and a 12 month high of $271.00. The company has a market capitalization of $703.30 billion, a PE ratio of 61.87, a PEG ratio of 6.54 and a beta of 2.29.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. As a group, equities research analysts forecast that Tesla will post 1.75 EPS for the current fiscal year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’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 completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on 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 directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC increased its position in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC boosted its position in Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Tesla by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after purchasing an additional 412,872 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

About Tesla

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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.

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