Tesla’s (TSLA) Top Pick Rating Reiterated at Morgan Stanley

Morgan Stanley restated their top pick rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Monday morning, MarketBeat reports. The brokerage currently has a $430.00 price objective on the electric vehicle producer’s stock.

Several other research firms also recently weighed in on TSLA. Truist Financial raised their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Mizuho reaffirmed an “outperform” rating and issued a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Glj Research reissued a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Wednesday, February 12th. UBS Group boosted their price target on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a research note on Monday. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $315.33.

Tesla Trading Up 2.6 %

NASDAQ:TSLA opened at $279.10 on Monday. The stock has a market cap of $897.73 billion, a P/E ratio of 136.81, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a 50-day simple moving average of $374.97 and a 200-day simple moving average of $318.13.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 422,386 shares of company stock worth $153,916,675. Company insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. World Investment Advisors LLC lifted its holdings in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management raised its holdings in Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the period. Stephens Consulting LLC raised its holdings in Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares during the period. Vinva Investment Management Ltd raised its holdings in shares of Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares during the period. Finally, MML Investors Services LLC raised its holdings in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares during the period. Institutional investors and hedge funds 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.