Tesla (NASDAQ:TSLA) Trading Up 0.2%

Tesla, Inc. (NASDAQ:TSLA)’s share price shot up 0.2% on Thursday . The company traded as high as $198.72 and last traded at $196.82. 31,257,805 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 94,992,719 shares. The stock had previously closed at $196.37.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. UBS Group lowered their target price on Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Wednesday, April 24th. Royal Bank of Canada dropped their price objective on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Finally, Barclays cut their price target on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $187.30.

Tesla Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The company’s 50 day moving average price is $175.83 and its 200-day moving average price is $192.28. The stock has a market cap of $626.01 billion, a P/E ratio of 49.70, a price-to-earnings-growth ratio of 4.65 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Equities analysts forecast that Tesla, Inc. will post 1.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,855 shares of company stock valued at $19,285,643. Insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morningstar Investment Services LLC raised its stake in shares of Tesla by 19.4% during the 3rd quarter. Morningstar Investment Services LLC now owns 4,211 shares of the electric vehicle producer’s stock valued at $1,038,000 after purchasing an additional 683 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of Tesla by 37.9% in the third quarter. CWA Asset Management Group LLC now owns 11,716 shares of the electric vehicle producer’s stock worth $2,932,000 after buying an additional 3,220 shares in the last quarter. Flight Deck Capital LP boosted its position in shares of Tesla by 41.4% in the third quarter. Flight Deck Capital LP now owns 12,300 shares of the electric vehicle producer’s stock valued at $3,078,000 after acquiring an additional 3,600 shares during the period. Ancora Advisors LLC increased its holdings in Tesla by 3.2% during the 3rd quarter. Ancora Advisors LLC now owns 5,086 shares of the electric vehicle producer’s stock worth $1,273,000 after acquiring an additional 156 shares during the period. Finally, Ironwood Investment Counsel LLC boosted its holdings in Tesla by 5.7% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 11,999 shares of the electric vehicle producer’s stock valued at $3,002,000 after purchasing an additional 650 shares during the period. 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.