Tesla (NASDAQ:TSLA) Receives “Underperform” Rating from Sanford C. Bernstein

Tesla (NASDAQ:TSLA)‘s stock had its “underperform” rating restated by analysts at Sanford C. Bernstein in a research note issued on Thursday, Benzinga reports. They currently have a $120.00 target price on the electric vehicle producer’s stock. Sanford C. Bernstein’s price target would suggest a potential downside of 52.02% from the stock’s current price.

A number of other brokerages have also recently issued reports on TSLA. William Blair started coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday, July 24th. Guggenheim upped their price target on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. KGI Securities reiterated a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Finally, Glj Research reissued a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Thursday, September 26th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $210.54.

Tesla Stock Up 3.9 %

TSLA stock opened at $250.08 on Thursday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a market capitalization of $798.92 billion, a price-to-earnings ratio of 63.80, a price-to-earnings-growth ratio of 6.79 and a beta of 2.29. The business’s 50 day moving average price is $224.00 and its two-hundred day moving average price is $201.39. 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 posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the company posted $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Tesla will post 1.74 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 over the last 90 days. Company insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Large investors have recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares during the last quarter. Morse Asset Management Inc raised its position in Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of Tesla by 7.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after purchasing an additional 1,943 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after purchasing an additional 27,130 shares during the period. Finally, Entropy Technologies LP bought a new position in shares of Tesla during the 1st quarter valued at approximately $1,941,000. 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.