Tesla (NASDAQ:TSLA) Trading Up 4.7% - Here's Why

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s share price was up 4.7% on Tuesday . The company traded as high as $237.81 and last traded at $238.21. Approximately 31,164,260 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 95,796,206 shares. The stock had previously closed at $227.50.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Cantor Fitzgerald cut their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. New Street Research upgraded shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 target price on the stock in a research note on Monday, January 6th. Argus set a $410.00 price target on Tesla in a report on Thursday. Finally, Wells Fargo & Company decreased their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $287.46.

Tesla Trading Up 9.8 %

The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $263.98 and a 200 day moving average of $322.46. The stock has a market cap of $916.55 billion, a PE ratio of 139.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the company posted $0.45 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cherry Tree Wealth Management LLC lifted its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank grew its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC raised its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. Finally, Horrell Capital Management Inc. boosted its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.