Tesla (NASDAQ:TSLA) Reaches New 1-Year High After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s stock price hit a new 52-week high during trading on Thursday after Guggenheim raised their price target on the stock from $156.00 to $175.00. Guggenheim currently has a sell rating on the stock. Tesla traded as high as $374.36 and last traded at $370.70, with a volume of 26497610 shares. The stock had previously closed at $357.93.

Several other research analysts also recently commented on TSLA. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Canaccord Genuity Group lifted their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $380.00 in a research report on Monday. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research report on Thursday, October 24th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $245.84.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 420,280 shares of company stock worth $135,164,640. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently modified their holdings of the stock. Connable Office Inc. lifted its position in shares of Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after buying an additional 38 shares during the last quarter. Community Bank N.A. raised its stake in Tesla by 4.4% in the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after acquiring an additional 38 shares during the period. Holistic Financial Partners lifted its holdings in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares during the last quarter. Integris Wealth Management LLC boosted its position in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the period. Finally, Sherrill & Hutchins Financial Advisory Inc increased its stake in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.2 %

The company has a market cap of $1.19 trillion, a P/E ratio of 101.23, a price-to-earnings-growth ratio of 11.41 and a beta of 2.36. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $282.96 and its 200-day moving average price is $236.89.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 1.99 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.