Tesla (NASDAQ:TSLA) Research Coverage Started at Bank of America

by · The Markets Daily

Bank of America assumed coverage on shares of Tesla (NASDAQ:TSLAFree Report) in a report released on Wednesday, MarketBeat reports. The firm issued a buy rating and a $460.00 price objective on the electric vehicle producer’s stock.

A number of other analysts have also weighed in on TSLA. The Goldman Sachs Group restated a “neutral” rating and set a $405.00 price objective on shares of Tesla in a research note on Thursday, January 29th. New Street Research increased their price target on shares of Tesla from $520.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Piper Sandler reissued an “overweight” rating on shares of Tesla in a research report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on Tesla from $500.00 to $480.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Dbs Bank upgraded Tesla to a “hold” rating in a research note on Wednesday, November 5th. Nineteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $406.84.

Read Our Latest Analysis on TSLA

Tesla Trading Down 2.2%

NASDAQ TSLA opened at $396.73 on Wednesday. Tesla has a 12 month low of $214.25 and a 12 month high of $498.83. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average price is $425.17 and its 200-day moving average price is $422.66. The stock has a market cap of $1.49 trillion, a P/E ratio of 367.34, a P/E/G ratio of 11.99 and a beta of 1.89.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. The firm had revenue of $24.90 billion during the quarter, compared to analyst estimates of $24.75 billion. Tesla had a return on equity of 4.86% and a net margin of 4.00%.Tesla’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. As a group, equities analysts forecast that Tesla will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 25,731 shares of Tesla stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $415.56, for a total value of $10,692,774.36. Following the completion of the sale, the director owned 19,669 shares of the company’s stock, valued at approximately $8,173,649.64. The trade was a 56.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the sale, the director owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 145,188 shares of company stock valued at $64,193,919 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Institutional Trading of Tesla

Large investors have recently modified their holdings of the company. Norges Bank purchased a new position in Tesla in the fourth quarter worth about $17,128,100,000. Corient Private Wealth LLC increased its position in shares of Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after purchasing an additional 20,810,386 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Tesla by 56.0% in the 4th quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer’s stock worth $9,334,211,000 after purchasing an additional 7,450,766 shares during the period. Cardano Risk Management B.V. lifted its stake in shares of Tesla by 882.8% in the 4th quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock worth $3,688,630,000 after purchasing an additional 7,367,507 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Tesla by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after buying an additional 6,538,720 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

Tesla Company Profile

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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