Tesla (NASDAQ:TSLA) Shares Up 7.5% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s share price rose 7.5% during trading on Monday after Royal Bank of Canada raised their price target on the stock from $249.00 to $313.00. Royal Bank of Canada currently has an outperform rating on the stock. Tesla traded as high as $347.34 and last traded at $344.63. Approximately 43,089,258 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 95,790,320 shares. The stock had previously closed at $320.72.

TSLA has been the subject of a number of other reports. Piper Sandler increased their price target on Tesla from $310.00 to $315.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. The Goldman Sachs Group increased their price objective on Tesla from $230.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. KGI Securities raised Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Argus reissued a "buy" rating and set a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Finally, Wolfe Research started coverage on Tesla in a report on Thursday, September 5th. They set a "peer perform" 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $230.18.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the 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 sale, the director now directly owns 5,400 shares of the company's stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at approximately $26,258,000. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 188,797 shares of company stock valued at $57,616,781. 20.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

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

Tesla Stock Up 5.6 %

The company has a market cap of $1.09 trillion, a PE ratio of 94.60, a PEG ratio of 10.42 and a beta of 2.29. 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 company's fifty day moving average is $252.30 and its 200-day moving average is $221.01.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. Tesla's revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

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.