Tesla (NASDAQ:TSLA) Stock Price Up 1.1% - Here's Why

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price was up 1.1% during trading on Friday . The stock traded as high as $344.98 and last traded at $343.34. Approximately 20,845,539 shares changed hands during trading, a decline of 78% from the average daily volume of 95,501,102 shares. The stock had previously closed at $339.64.

Analyst Ratings Changes

Several analysts recently issued reports on TSLA shares. Phillip Securities downgraded Tesla from a "moderate sell" rating to a "strong sell" rating in a report on Wednesday, November 13th. Royal Bank of Canada upped their price target on shares of Tesla from $249.00 to $313.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday, October 24th. Wolfe Research initiated coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. Finally, William Blair began coverage on Tesla in a report on Thursday, August 29th. They issued an "outperform" rating for the company. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $230.18.

Tesla Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The business has a 50 day moving average price of $261.63 and a two-hundred day moving average price of $224.93. The company has a market cap of $1.14 trillion, a P/E ratio of 94.07, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business's revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company's stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 301,187 shares of company stock valued at $92,956,692. Insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TSLA. Bank & Trust Co bought a new position in shares of Tesla in the second quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter valued at approximately $29,000. Finally, Clean Yield Group boosted its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after acquiring an additional 48 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

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.

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