Tesla (NASDAQ:TSLA) Trading Up 5.1%

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price was up 5.1% during trading on Thursday . The company traded as high as $240.19 and last traded at $238.90. Approximately 37,180,301 shares traded hands during trading, a decline of 61% from the average daily volume of 95,942,406 shares. The stock had previously closed at $227.20.

Analyst Ratings Changes

Several research analysts have commented on TSLA shares. Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They issued a "peer perform" rating for the company. Truist Financial reaffirmed a "hold" rating and issued a $215.00 target price on shares of Tesla in a research report on Wednesday, August 14th. Guggenheim raised their price target on shares of Tesla from $134.00 to $153.00 and gave the company a "sell" rating in a report on Friday, September 13th. Morgan Stanley restated an "overweight" rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, September 5th. Finally, Piper Sandler restated an "overweight" rating and set a $300.00 price target on shares of Tesla in a report on Monday, August 19th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $209.60.

Tesla Price Performance

The stock has a market capitalization of $779.24 billion, a P/E ratio of 62.22, a PEG ratio of 6.00 and a beta of 2.29. The company's 50 day simple moving average is $221.50 and its two-hundred day simple moving average is $195.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. As a group, equities analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company's stock, valued at $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm's stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Company insiders own 25.10% of the company's stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank & Trust Co bought a new position in shares of Tesla in the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the 4th quarter worth $37,000. Finally, Kessler Investment Group LLC raised its position in shares of Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer's stock valued at $38,000 after acquiring an additional 51 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.