Tesla (NASDAQ:TSLA) Stock Price Up 3.7% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s stock price traded up 3.7% 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 $375.43 and last traded at $371.15. 35,094,877 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 94,531,367 shares. The stock had previously closed at $357.93.

A number of other research firms also recently weighed in on TSLA. Jefferies Financial Group increased their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Morgan Stanley restated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $245.84.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 520,280 shares of company stock worth $170,418,640. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TSLA. Geode Capital Management LLC lifted its stake in shares of Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares during the last quarter. FMR LLC increased its stake in Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after purchasing an additional 301,968 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 5.3 %

The firm’s 50 day moving average is $282.96 and its 200 day moving average is $236.89. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.25 trillion, a PE ratio of 106.64, a P/E/G ratio of 11.41 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 1.99 EPS for the current 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.