Tesla (NASDAQ:TSLA) Sets New 1-Year High After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) shares reached a new 52-week high during 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 traded. The stock had previously closed at $352.56.

A number of other analysts also recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Jefferies Financial Group lifted their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Wolfe Research started coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $231.06.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its holdings in Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after acquiring an additional 331 shares in the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of Tesla by 69.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 55,245 shares of the electric vehicle producer’s stock worth $9,712,000 after purchasing an additional 22,624 shares during the last quarter. Ancora Advisors LLC raised its position in Tesla by 4.7% in the 1st quarter. Ancora Advisors LLC now owns 6,585 shares of the electric vehicle producer’s stock worth $1,158,000 after buying an additional 294 shares during the last quarter. Creekmur Asset Management LLC raised its position in Tesla by 65.2% in the 1st quarter. Creekmur Asset Management LLC now owns 889 shares of the electric vehicle producer’s stock worth $156,000 after buying an additional 351 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in Tesla in the 1st quarter worth about $323,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 4.0 %

The stock has a 50-day simple moving average of $266.31 and a two-hundred day simple moving average of $227.97. The firm has a market cap of $1.09 trillion, a PE ratio of 92.76, a price-to-earnings-growth ratio of 11.45 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the company posted $0.53 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current 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.