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New Sell Rating for Tesla (TSLA), the Technology Giant

In a report released today, Rajvindra Gill from Needham maintained a Sell rating on Tesla (TSLAResearch Report). The company’s shares closed last Wednesday at $865.80, close to its 52-week high of $900.40.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 18.9% and a 69.1% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings, and Everspin Technologies.

Currently, the analyst consensus on Tesla is a Hold with an average price target of $722.19, representing a -16.5% downside. In a report issued on October 14, Barclays also maintained a Sell rating on the stock with a $300.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

Tesla’s market cap is currently $867.3B and has a P/E ratio of 450.90. The company has a Price to Book ratio of 35.67.

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TSLA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Tesla, Inc. manufactures and sells fully electric vehicles, solar energy generation systems and energy storage products. It also operates a network of vehicle service centers and Supercharger stations. The company operates through two segments: Automotive and Energy Generation & Storage. Founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003, the company is headquartered in Palo Alto, CA.

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