Tesla (TSLA) Receives a Sell from Needham

Needham analyst Rajvindra Gill assigned a Sell rating to Tesla (TSLA) today. The company’s shares closed last Friday at $434.00, close to its 52-week high of $502.49.

According to TipRanks.com, Gill is a 4-star analyst with an average return of 5.1% and a 58.7% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

The word on The Street in general, suggests a Hold analyst consensus rating for Tesla with a $324.69 average price target, a -24.5% downside from current levels. In a report issued on October 2, Bernstein also maintained a Sell rating on the stock with a $180.00 price target.

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The company has a one-year high of $502.49 and a one-year low of $49.43. Currently, Tesla has an average volume of 75.29M.

Based on the recent corporate insider activity of 70 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. engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture and sale of electric vehicles. The Energy Generation and Storage segment includes the design, manufacture, installation, sale, and lease of stationary energy storage products and solar energy systems, and sale of electricity generated by its solar energy systems to customers. It develops energy storage products for use in homes, commercial facilities and utility sites. The company was founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003 and is headquartered in Palo Alto, CA.

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