Tesla (NASDAQ:TSLA) Stock Price Up 5.1%

Tesla, Inc. (NASDAQ:TSLA)’s share price was up 5.1% during mid-day trading on Thursday . The company traded as high as $240.19 and last traded at $238.90. Approximately 37,180,301 shares were traded during trading, a decline of 61% from the average daily volume of 95,942,406 shares. The stock had previously closed at $227.20.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Mizuho boosted their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $254.00 price objective on shares of Tesla in a research note on Friday, September 13th. Finally, China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Friday, July 5th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Stock Performance

The firm has a market cap of $774.44 billion, a price-to-earnings ratio of 60.94, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29. The stock has a 50-day moving average of $221.44 and a 200-day moving average of $195.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. As a group, analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was 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 directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Institutional investors and hedge funds have recently made changes to their positions in the company. DDFG Inc grew its position in shares of Tesla by 7.1% during the 4th quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock valued at $265,000 after acquiring an additional 71 shares during the period. Vantage Financial Partners LLC increased its holdings in Tesla by 6.4% in the 4th quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after acquiring an additional 346 shares during the last quarter. Gilbert & Cook Inc. raised its stake in Tesla by 8.7% in the 4th quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after acquiring an additional 1,086 shares during the period. 9258 Wealth Management LLC lifted its holdings in Tesla by 1.1% during the fourth quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock valued at $1,532,000 after purchasing an additional 69 shares during the last quarter. Finally, Rollins Financial increased its stake in shares of Tesla by 10.2% in the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after purchasing an additional 11,191 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.