Tesla (NASDAQ:TSLA) Shares Up 3.8% After Analyst Upgrade

Shares of Tesla, Inc. (NASDAQ:TSLA) rose 3.8% on Friday after Truist Financial raised their price target on the stock from $215.00 to $236.00. Truist Financial currently has a hold rating on the stock. Tesla traded as high as $249.87 and last traded at $249.84. Approximately 31,676,805 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 95,267,063 shares. The stock had previously closed at $240.66.

A number of other equities analysts also recently commented on TSLA. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Barclays dropped their price target on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Wolfe Research initiated coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup lowered their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $210.54.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on 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 sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on 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 $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank & Trust Co bought a new position in Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. M&R Capital Management Inc. grew its position in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 3.9 %

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 cap of $797.33 billion, a P/E ratio of 63.73, a P/E/G ratio of 7.08 and a beta of 2.29. The company has a 50-day simple moving average of $223.40 and a 200-day simple moving average of $200.86.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

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.