Tesla (NASDAQ:TSLA) Shares Up 3.7%

Tesla, Inc. (NASDAQ:TSLA)’s stock price traded up 3.7% during mid-day trading on Monday . The company traded as high as $248.48 and last traded at $247.18. 30,575,611 shares changed hands during trading, a decline of 68% from the average session volume of 96,003,328 shares. The stock had previously closed at $238.25.

Analysts Set New Price Targets

A number of equities research analysts have commented on TSLA shares. Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Argus restated a “buy” rating and set a $286.00 price objective on shares of Tesla in a research report on Friday, July 26th. Royal Bank of Canada lowered their target price on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. William Blair initiated coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Barclays lowered their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $209.60.

Tesla Stock Performance

The stock has a market capitalization of $795.10 billion, a PE ratio of 63.06, a PEG ratio of 6.00 and a beta of 2.29. The business’s 50 day moving average is $221.30 and its 200 day moving average is $196.08. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the company posted $0.78 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC increased its position in Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after buying an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after acquiring an additional 412,872 shares in the last quarter. Institutional investors 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.