Tesla (NASDAQ:TSLA) Hits New 12-Month High After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s share price hit a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $265.00 to $287.00. Stifel Nicolaus currently has a buy rating on the stock. Tesla traded as high as $272.78 and last traded at $271.90, with a volume of 36105188 shares. The stock had previously closed at $269.19.

TSLA has been the subject of several other research reports. Truist Financial boosted their price objective on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Canaccord Genuity Group upped their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a report on Wednesday, July 24th. Finally, China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Friday, July 5th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $219.00.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,297 shares of company stock valued at $3,065,866 over the last quarter. Company insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Integrity Wealth Solutions LLC boosted its position in shares of Tesla by 3.1% in the first quarter. Integrity Wealth Solutions LLC now owns 11,495 shares of the electric vehicle producer’s stock worth $2,021,000 after acquiring an additional 341 shares during the last quarter. Sloy Dahl & Holst LLC boosted its holdings in Tesla by 3.0% in the 1st quarter. Sloy Dahl & Holst LLC now owns 1,152,228 shares of the electric vehicle producer’s stock worth $202,550,000 after acquiring an additional 33,733 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Tesla by 12.9% in the first 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 acquiring an additional 1,125,329 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in Tesla by 4.0% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 39,186 shares of the electric vehicle producer’s stock worth $6,888,000 after buying an additional 1,504 shares in the last quarter. Finally, Iyo Bank Ltd. lifted its stake in shares of Tesla by 97.1% in the first quarter. Iyo Bank Ltd. now owns 2,720 shares of the electric vehicle producer’s stock worth $478,000 after acquiring an additional 1,340 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

The company has a market capitalization of $842.67 billion, a PE ratio of 71.92, a PEG ratio of 7.59 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a 50 day moving average price of $231.33 and a 200 day moving average price of $208.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. Equities analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

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.