Tesla (NASDAQ:TSLA) Trading 3.8% Higher - What's Next?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price rose 3.8% on Tuesday . The company traded as high as $253.50 and last traded at $252.02. Approximately 26,313,613 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 93,743,219 shares. The stock had previously closed at $242.84.

Analysts Set New Price Targets

A number of research analysts recently commented on TSLA shares. Citigroup lowered their price objective on shares of Tesla from $274.00 to $258.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 24th. Glj Research reissued a "sell" rating and issued a $24.86 price objective on shares of Tesla in a research note on Thursday, October 17th. Truist Financial raised their target price on Tesla from $236.00 to $238.00 and gave the company a "hold" rating in a research note on Thursday, October 24th. HSBC reiterated a "reduce" rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Finally, KGI Securities upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 price objective for the company in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $219.45.

Tesla Trading Up 3.5 %

The company has a fifty day simple moving average of $235.57 and a two-hundred day simple moving average of $212.54. The company has a market capitalization of $807.14 billion, a P/E ratio of 68.89, a price-to-earnings-growth ratio of 8.21 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the business earned $0.53 EPS. The firm's revenue was up 7.8% compared to the same quarter last year. On average, analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company's stock, valued at $26,442,856.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kimbal Musk sold 60,500 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,797 shares of company stock worth $19,211,821. 20.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock valued at $2,892,160,000 after buying an additional 11,023,436 shares during the period. Clean Energy Transition LLP increased its stake in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer's stock valued at $953,505,000 after acquiring an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC raised its position in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. lifted its stake in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer's stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer's stock valued at $416,341,000 after purchasing an additional 1,479,378 shares during the period. Institutional investors own 66.20% of the company's stock.

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.