Tesla (NASDAQ:TSLA) Shares Up 1.4% - What's Next?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price rose 1.4% on Monday . The stock traded as high as $303.94 and last traded at $297.01. Approximately 39,324,036 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 78,166,211 shares. The stock had previously closed at $292.98.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of Tesla from $195.00 to $275.00 and gave the company an "in-line" rating in a research note on Friday, January 3rd. Piper Sandler upped their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Bank of America reduced their target price on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a report on Tuesday. StockNews.com downgraded Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group upped their price objective on Tesla from $195.00 to $300.00 and gave the company a "hold" rating in a report on Thursday, November 14th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $315.33.

Tesla Trading Up 2.6 %

The firm has a 50-day moving average price of $374.97 and a 200-day moving average price of $318.13. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $897.73 billion, a PE ratio of 136.81, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the sale, the director now directly owns 85,000 shares in the company, valued at $25,466,850. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 416,386 shares of company stock worth $152,140,555. Company insiders own 20.70% of the company's stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently added to or reduced their stakes in TSLA. World Investment Advisors LLC increased its holdings in shares of Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock worth $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management lifted its stake in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock worth $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC increased its position in shares of Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after purchasing an additional 891 shares during the last quarter. Vinva Investment Management Ltd lifted its position in Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock worth $30,593,000 after buying an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC grew its position in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock valued at $80,944,000 after acquiring an additional 9,919 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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