Tesla (NASDAQ:TSLA) Trading Up 1.3% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s stock price was up 1.3% on Monday after Stifel Nicolaus raised their price target on the stock from $411.00 to $492.00. Stifel Nicolaus currently has a buy rating on the stock. Tesla traded as high as $426.43 and last traded at $415.86. Approximately 35,273,547 shares changed hands during trading, a decline of 55% from the average daily volume of 78,854,469 shares. The stock had previously closed at $410.44.

A number of other equities research analysts also recently weighed in on the stock. Evercore ISI boosted their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. increased their price target on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research note on Monday. Finally, Wedbush restated an “outperform” rating and set a $400.00 target price on shares of Tesla in a research report on Monday, November 18th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $295.69.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 514,886 shares of company stock worth $169,393,831 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its position in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP increased its stake in shares of Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after purchasing an additional 6,764,300 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tesla by 13.7% during the 3rd 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 worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Wellington Management Group LLP boosted its stake in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after buying an additional 1,479,378 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 4.1 %

The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.27 trillion, a P/E ratio of 108.04, a PEG ratio of 10.80 and a beta of 2.30. The firm has a 50-day simple moving average of $368.03 and a two-hundred day simple moving average of $277.49.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during 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 firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. 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.