Tesla (NASDAQ:TSLA) Shares Up 1% – Here’s Why

Shares of Tesla, Inc. (NASDAQ:TSLA) shot up 1% on Monday . The stock traded as high as $432.80 and last traded at $425.43. 28,216,913 shares changed hands during trading, a decline of 70% from the average session volume of 95,115,641 shares. The stock had previously closed at $421.06.

Analyst Ratings Changes

Several equities research analysts have issued reports on TSLA shares. Barclays increased their price target on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Morgan Stanley raised their target price on shares of Tesla from $310.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Stifel Nicolaus raised their price objective on shares of Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $272.06.

Tesla Stock Up 2.8 %

The stock has a 50-day moving average of $322.89 and a 200 day moving average of $256.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market cap of $1.39 trillion, a P/E ratio of 118.54, a PEG ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. Research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 514,886 shares of company stock worth $169,393,831 over the last three months. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the company. SMART Wealth LLC acquired a new stake in Tesla during the 3rd quarter worth approximately $208,000. DGS Capital Management LLC lifted its holdings in shares of Tesla by 17.3% during the third quarter. DGS Capital Management LLC now owns 3,804 shares of the electric vehicle producer’s stock worth $995,000 after purchasing an additional 560 shares during the period. Boulder Wealth Advisors LLC bought a new stake in shares of Tesla in the third quarter worth $232,000. Oriental Harbor Investment Fund acquired a new stake in Tesla in the third quarter valued at $14,700,000. Finally, Inspire Trust Co. N.A. raised its position in Tesla by 23.3% during the 3rd quarter. Inspire Trust Co. N.A. now owns 8,200 shares of the electric vehicle producer’s stock worth $2,145,000 after purchasing an additional 1,548 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

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.