Tesla Inc. (NASDAQ:TSLA) had its target price reduced by Royal Bank Of Canada from $345.00 to $340.00 in a research note issued on Thursday. The firm currently has a “sector perform” rating on the electric vehicle producer’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 2.55% from the stock’s previous close.

A number of other analysts have also commented on TSLA. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $180.00 price objective (down previously from $190.00) on shares of Tesla in a research note on Wednesday, July 5th. Guggenheim reaffirmed a “buy” rating and set a $430.00 price objective (up previously from $380.00) on shares of Tesla in a research note on Wednesday, July 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $368.00 price objective on shares of Tesla in a research note on Wednesday, July 5th. KeyCorp reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, July 5th. Finally, Cowen and Company reaffirmed an “underperform” rating and set a $155.00 price objective on shares of Tesla in a research note on Thursday, July 6th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $332.18.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, missing analysts’ consensus estimates of ($2.22) by ($0.70). The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS.

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In other news, VP Eric Branderiz sold 1,736 shares of Tesla stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total value of $589,354.64. Following the completion of the transaction, the vice president now owns 1,736 shares in the company, valued at approximately $589,354.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total value of $15,240,299.72. Following the completion of the transaction, the director now owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,992 shares of company stock valued at $17,390,505. Insiders own 23.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of TSLA. Dimensional Fund Advisors LP grew its position in shares of Tesla by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 98,790 shares of the electric vehicle producer’s stock worth $27,492,000 after acquiring an additional 1,894 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Tesla by 5.0% in the 1st quarter. Nuveen Asset Management LLC now owns 19,732 shares of the electric vehicle producer’s stock worth $5,491,000 after acquiring an additional 932 shares in the last quarter. DnB Asset Management AS grew its position in shares of Tesla by 1.6% in the 2nd quarter. DnB Asset Management AS now owns 13,621 shares of the electric vehicle producer’s stock worth $4,927,000 after acquiring an additional 210 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Tesla by 4.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 12,343 shares of the electric vehicle producer’s stock worth $4,463,000 after acquiring an additional 521 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in shares of Tesla by 4.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 18,750 shares of the electric vehicle producer’s stock worth $6,780,000 after acquiring an additional 728 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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