Tesla (NASDAQ:TSLA) Trading Up 0.1% – Here’s Why

Tesla, Inc. (NASDAQ:TSLA)’s share price rose 0.1% during trading on Thursday . The company traded as high as $402.50 and last traded at $394.94. 72,821,968 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 87,822,344 shares. The stock had previously closed at $394.36.

Analyst Ratings Changes

TSLA has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and upped their price target for the stock from $400.00 to $490.00 in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Wells Fargo & Company upped their target price on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, UBS Group raised their price target on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $295.69.

Tesla Price Performance

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 50 day moving average of $376.60 and a 200-day moving average of $280.59. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 108.15, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock valued at $213,451,751 over the last ninety days. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Large investors have recently made changes to their positions in the stock. Horizon Family Wealth Inc. boosted its position in Tesla by 7.7% in the 2nd quarter. Horizon Family Wealth Inc. now owns 1,370 shares of the electric vehicle producer’s stock worth $271,000 after purchasing an additional 98 shares in the last quarter. Robeco Schweiz AG grew its position in Tesla by 7.5% during the second quarter. Robeco Schweiz AG now owns 235,465 shares of the electric vehicle producer’s stock valued at $46,594,000 after buying an additional 16,400 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Tesla by 9.6% in the second quarter. Oppenheimer & Co. Inc. now owns 142,741 shares of the electric vehicle producer’s stock valued at $28,246,000 after buying an additional 12,526 shares in the last quarter. Ullmann Wealth Partners Group LLC raised its position in shares of Tesla by 15.6% in the second quarter. Ullmann Wealth Partners Group LLC now owns 1,866 shares of the electric vehicle producer’s stock worth $369,000 after acquiring an additional 252 shares during the period. Finally, Meeder Advisory Services Inc. boosted its stake in shares of Tesla by 24.2% during the 2nd quarter. Meeder Advisory Services Inc. now owns 36,495 shares of the electric vehicle producer’s stock worth $7,222,000 after acquiring an additional 7,104 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.