Tesla (NASDAQ:TSLA) Trading 3.7% Higher After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) shares were up 3.7% during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $287.00 to $411.00. Stifel Nicolaus currently has a buy rating on the stock. Tesla traded as high as $345.45 and last traded at $345.16. Approximately 37,167,621 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 95,239,375 shares. The stock had previously closed at $332.89.

Other equities research analysts have also recently issued research reports about the stock. UBS Group increased their target price on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday, November 25th. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. JPMorgan Chase & Co. increased their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $243.75.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 301,187 shares of company stock worth $92,956,692. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds have recently modified their holdings of the stock. Vinva Investment Management Ltd boosted its position in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management increased its holdings in shares of Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after purchasing an additional 4,929 shares during the period. Fred Alger Management LLC raised its position in shares of Tesla by 187.0% in the third quarter. Fred Alger Management LLC now owns 725,282 shares of the electric vehicle producer’s stock valued at $189,756,000 after buying an additional 472,565 shares in the last quarter. Finally, Savvy Advisors Inc. grew its holdings in shares of Tesla by 24.2% during the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after purchasing an additional 1,467 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

The stock has a 50 day moving average of $274.55 and a 200 day moving average of $232.59. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 94.56, a P/E/G ratio of 11.21 and a beta of 2.29.

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