Goldman Sachs Group Reaffirms Neutral Rating on Tesla (TSLA)

The Goldman Sachs Group confirmed its neutral rating for the company’s shares Tesla (NASDAQ:TSLA – Free Report) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a target price of $175.00 on the electric vehicle maker’s shares.

Multiple other analysts have also issued reports on TSLA. Robert W. Baird reiterated an outperform rating and set a $280.00 price target on shares of Tesla in a report on Wednesday, April 17. Barclays lowered their price target on shares of Tesla from $225.00 to $180.00 and set an equal weight on the stock in a research note on Wednesday, April 17. UBS Group lowered their price target on shares of Tesla from $160.00 to $147.00 and set a neutral rating for the company in a research note on Wednesday, April 24. New Street Research reissued a buy rating and set a $235.00 price target on shares of Tesla in a research note on Tuesday, June 25. Finally, Roth Mkm reaffirmed a neutral rating and set an $85.00 price target on shares of Tesla in a research report on Wednesday, April 24. Seven equities research analysts have rated the stock a “sell,” seventeen have given a “hold” rating, and eleven have given a “buy” rating to the company. Tesla has a consensus rating of “hold” and a consensus price target of $189.47, according to data from MarketBeat.

Read our latest research report on TSLA

Tesla price performance

TSLA opened at $246.39 on Wednesday. The company has a current ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $180.89 and a 200-day moving average of $190.93. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The stock has a market capitalization of $785.79 billion, a P/E ratio of 62.85, a PEG ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly financial results on Tuesday, April 23. The electric vehicle maker reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Sell-side analysts are predicting Tesla will report earnings per share of $1.86 for the current year.

Internal Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6. The shares were sold at an average price of $184.86, for a total transaction value of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available through this link . In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6. The shares were sold at an average price of $184.86, for a total transaction value of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink . Additionally, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the SVP now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. Disclosure of this sale can be found here . Insiders currently own 20.90% of the stock.

Institutional inflows and outflows

A number of institutional investors and hedge funds have recently added to or reduced their holdings in the company. Vanguard Group Inc. increased its holdings in Tesla by 1.7% in Q1. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle maker’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Norges Bank acquired a new position in Tesla shares in Q4 worth approximately $7,844,757,000. Morgan Stanley increased its holdings in Tesla by 7.8% in Q3. Morgan Stanley now owns 30,160,747 shares of the electric vehicle maker’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle maker’s stock worth $3,765,933,000 after acquiring an additional 458,804 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle maker’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. Hedge funds and other 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 and also sells regulatory credits for automotive; and aftermarket services for vehicles without warranty, used vehicles, body shops and parts, supercharging, retail merchandise, and vehicle insurance.

Tesla price performance

Internal Activity at Tesla

Institutional inflows and outflows

About Tesla

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