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Tesla (TSLA): New Sell Recommendation for This Technology Giant

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Needham analyst Rajvindra Gill maintained a Sell rating on Tesla (TSLAResearch Report) today. The company’s shares closed last Monday at $1175.67, close to its 52-week high of $1243.49.

According to TipRanks.com, Gill is a top 100 analyst with an average return of 24.8% and a 73.0% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings, and Everspin Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tesla with a $1030.08 average price target, implying a -10.3% downside from current levels. In a report released today, J.P. Morgan also maintained a Sell rating on the stock with a $295.00 price target.

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The company has a one-year high of $1243.49 and a one-year low of $539.49. Currently, Tesla has an average volume of 26.53M.

Based on the recent corporate insider activity of 94 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. Most recently, in November 2021, Kimbal Musk, a Director at TSLA sold 88,500 shares for a total of $108,770,966.

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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