Tesla (NASDAQ:TSLA) Hits New 52-Week High Following Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) shares hit a new 52-week high during mid-day trading on Monday after UBS Group raised their price target on the stock from $197.00 to $226.00. UBS Group currently has a sell rating on the stock. Tesla traded as high as $361.93 and last traded at $349.77, with a volume of 19615025 shares trading hands. The stock had previously closed at $352.56.

A number of other equities research analysts have also weighed in on the company. The Goldman Sachs Group raised their price objective on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Robert W. Baird reiterated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Truist Financial upped their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $231.06.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 301,187 shares of company stock worth $92,956,692. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors have recently bought and sold shares of the stock. Bank & Trust Co bought a new position in shares of Tesla during the second quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter worth approximately $29,000. Finally, Clean Yield Group boosted its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

The business has a fifty day moving average of $264.07 and a 200-day moving average of $226.79. 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 company has a market cap of $1.11 trillion, a PE ratio of 96.40, a P/E/G ratio of 11.45 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate 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.