Tesla (NASDAQ:TSLA) Stock Price Up 1.3%

Shares of Tesla, Inc. (NASDAQ:TSLA) shot up 1.3% during trading on Tuesday . The company traded as high as $257.19 and last traded at $253.14. 46,175,402 shares were traded during mid-day trading, a decline of 52% from the average session volume of 96,015,320 shares. The stock had previously closed at $250.00.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. William Blair started coverage on shares of Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. HSBC boosted their price objective on shares of Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. The Goldman Sachs Group decreased their price objective on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Canaccord Genuity Group restated a “buy” rating and issued a $254.00 price target on shares of Tesla in a research note on Friday, September 13th. Finally, Mizuho raised their price objective on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market capitalization of $804.89 billion, a P/E ratio of 64.58, a PEG ratio of 6.00 and a beta of 2.29. The firm has a fifty day moving average price of $221.24 and a two-hundred day moving average price of $196.58.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (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 company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Tesla

Several institutional investors have recently bought and sold shares of the business. Morse Asset Management Inc lifted its holdings in Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares in the last quarter. Atalanta Sosnoff Capital LLC increased its position in shares of Tesla by 3.7% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock worth $45,546,000 after purchasing an additional 6,575 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in Tesla by 7.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after purchasing an additional 1,943 shares during the last quarter. Entropy Technologies LP acquired a new stake in Tesla during the 1st quarter worth $1,941,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Tesla in the first quarter valued at about $79,000. 66.20% of the stock is owned by institutional investors and hedge funds.

About Tesla

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.