Tesla (NASDAQ:TSLA) Shares Up 0.4%

Shares of Tesla, Inc. (NASDAQ:TSLA) rose 0.4% on Friday . The stock traded as high as $252.37 and last traded at $247.38. Approximately 60,581,590 shares changed hands during trading, a decline of 37% from the average daily volume of 96,788,391 shares. The stock had previously closed at $246.39.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus started coverage on shares of Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price target on the stock. Truist Financial reaffirmed a “hold” rating and set a $162.00 target price on shares of Tesla in a report on Wednesday. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, June 10th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research note on Friday. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a report on Wednesday, April 24th. Seven research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $192.71.

Tesla Trading Up 0.2 %

The company has a fifty day simple moving average of $184.10 and a two-hundred day simple moving average of $191.70. The company has a market capitalization of $787.19 billion, a P/E ratio of 63.11, a price-to-earnings-growth ratio of 6.11 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently modified their holdings of the stock. Wyrmwood Management LLC bought a new stake in shares of Tesla in the 4th quarter worth about $25,000. Lam Group Inc. bought a new position in shares of Tesla in the fourth quarter valued at approximately $25,000. Mendota Financial Group LLC grew its position in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the 4th quarter valued at $37,000. Finally, Guardian Wealth Management Inc. acquired a new position in Tesla in the fourth quarter worth $47,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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.