Tesla (NASDAQ:TSLA) Stock Price Up 6.5% After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) shares were up 6.5% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $160.00 to $180.00. TD Cowen currently has a hold rating on the stock. Tesla traded as high as $248.35 and last traded at $246.39. Approximately 166,561,471 shares changed hands during trading, an increase of 106% from the average daily volume of 80,957,576 shares. The stock had previously closed at $231.26.

TSLA has been the topic of several other reports. UBS Group dropped their price objective on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. The Goldman Sachs Group reiterated a “neutral” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday. Stifel Nicolaus assumed coverage on shares of Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective on the stock. Evercore ISI decreased their price objective on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, April 29th. Finally, Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a research report on Wednesday, April 24th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $189.47.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hudson Valley Investment Advisors Inc. ADV boosted its stake in shares of Tesla by 9.6% during the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 3,841 shares of the electric vehicle producer’s stock valued at $760,000 after purchasing an additional 337 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Tesla by 35.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 49,567 shares of the electric vehicle producer’s stock valued at $9,808,000 after purchasing an additional 13,081 shares during the period. First Hawaiian Bank boosted its stake in shares of Tesla by 2.0% during the second quarter. First Hawaiian Bank now owns 7,296 shares of the electric vehicle producer’s stock valued at $1,444,000 after purchasing an additional 144 shares during the period. GAMMA Investing LLC boosted its stake in shares of Tesla by 48.3% during the second quarter. GAMMA Investing LLC now owns 14,682 shares of the electric vehicle producer’s stock valued at $2,905,000 after purchasing an additional 4,781 shares during the period. Finally, Transcend Capital Advisors LLC boosted its stake in shares of Tesla by 3.9% during the second quarter. Transcend Capital Advisors LLC now owns 14,638 shares of the electric vehicle producer’s stock valued at $2,897,000 after purchasing an additional 546 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

The stock has a market capitalization of $785.79 billion, a PE ratio of 62.85, a price-to-earnings-growth ratio of 5.74 and a beta of 2.31. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $182.57 and its 200-day moving average price is $191.32.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. As a group, equities analysts forecast that Tesla, Inc. will post 1.86 EPS for the current year.

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.