Tesla (NASDAQ:TSLA) Trading Up 3.1% - Here's What Happened

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares rose 3.1% on Monday . The company traded as high as $439.74 and last traded at $426.50. Approximately 94,422,250 shares were traded during trading, an increase of 18% from the average daily volume of 80,357,656 shares. The stock had previously closed at $413.82.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. Truist Financial reiterated a "hold" rating and issued a $360.00 price target on shares of Tesla in a research note on Thursday, January 2nd. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on Tesla from $130.00 to $135.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Robert W. Baird raised their price objective on Tesla from $280.00 to $480.00 and gave the company an "outperform" rating in a research report on Wednesday, December 18th. Finally, Sanford C. Bernstein reissued an "underperform" rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average target price of $299.33.

Tesla Stock Up 3.1 %

The stock has a 50 day moving average price of $389.94 and a 200 day moving average price of $288.78. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. As a group, analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of Tesla 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 owns 1,563,220 shares of the company's stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction 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 sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 over the last three months. Company insiders own 20.70% of the company's stock.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock worth $2,892,160,000 after buying an additional 11,023,436 shares during the period. Assenagon Asset Management S.A. boosted its stake in Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer's stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer's stock valued at $1,921,548,000 after purchasing an additional 2,511,488 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 buying 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.