Tesla (NASDAQ:TSLA) Trading Up 1.4% After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s share price shot up 1.4% during mid-day trading on Monday after Barclays raised their price target on the stock from $220.00 to $235.00. Barclays currently has an equal weight rating on the stock. Tesla traded as high as $273.37 and last traded at $272.92. 40,965,688 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 94,426,016 shares. The stock had previously closed at $269.19.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Wolfe Research began coverage on Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Jefferies Financial Group lifted their price objective on Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research note on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $219.45.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,297 shares of company stock valued at $3,065,866. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently bought and sold shares of TSLA. Integris Wealth Management LLC raised its position in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its position in Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares during the period. Echo Wealth Management LLC lifted its stake in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co boosted its holdings in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the period. Finally, Bellevue Asset Management LLC increased its position in shares of Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.1 %

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 fifty day moving average of $232.09 and a two-hundred day moving average of $209.16. The company has a market cap of $833.07 billion, a PE ratio of 71.10, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29.

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