Tesla (NASDAQ:TSLA) Trading Up 1.1% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) shares rose 1.1% during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $483.00 to $508.00. Stifel Nicolaus currently has a buy rating on the stock. Tesla traded as high as $423.96 and last traded at $408.92. Approximately 100,371,454 shares traded hands during trading, a decline of 0% from the average daily volume of 100,725,602 shares. The stock had previously closed at $404.35.

A number of other research firms also recently commented on TSLA. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Truist Financial lifted their price objective on shares of Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Bank of America upped their target price on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $394.31.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC increased its holdings in shares of Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares in the last quarter. AMG National Trust Bank lifted its stake in shares of Tesla by 11.8% in the 1st quarter. AMG National Trust Bank now owns 4,671 shares of the electric vehicle producer’s stock valued at $1,211,000 after purchasing an additional 493 shares during the period. Finally, FAS Wealth Partners Inc. boosted its holdings in Tesla by 22.1% during the first quarter. FAS Wealth Partners Inc. now owns 5,031 shares of the electric vehicle producer’s stock worth $1,304,000 after buying an additional 911 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 1.1%

The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average is $429.67 and its 200 day moving average is $361.33. The company has a market cap of $1.36 trillion, a price-to-earnings ratio of 272.61, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 2.56 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.