Tesla (NASDAQ:TSLA) Trading 0.7% Higher

Tesla, Inc. (NASDAQ:TSLAGet Free Report) shares traded up 0.7% during trading on Wednesday . The stock traded as high as $167.94 and last traded at $167.86. 37,620,388 shares traded hands during trading, a decline of 63% from the average session volume of 101,501,430 shares. The stock had previously closed at $166.63.

Analyst Ratings Changes

Several research analysts recently commented on the company. The Goldman Sachs Group lowered their target price on Tesla from $220.00 to $190.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Redburn Atlantic initiated coverage on Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price objective for the company. Robert W. Baird lowered their price objective on Tesla from $300.00 to $280.00 and set an “outperform” rating for the company in a research report on Tuesday. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday. Finally, Piper Sandler lowered their price objective on Tesla from $295.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 5th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $202.00.

View Our Latest Analysis on Tesla

Tesla Trading Up 1.0 %

The business has a fifty day simple moving average of $184.80 and a 200 day simple moving average of $218.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock has a market cap of $536.13 billion, a price-to-earnings ratio of 38.95, a PEG ratio of 4.06 and a beta of 2.39.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.38 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 198,598 shares of company stock valued at $36,952,434. 25.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new position in Tesla during the 3rd quarter worth approximately $25,000. Wyrmwood Management LLC purchased a new position in shares of Tesla during the 4th quarter valued at $25,000. Lam Group Inc. purchased a new position in shares of Tesla during the 4th quarter valued at $25,000. Alpha Paradigm Partners LLC purchased a new position in shares of Tesla during the 3rd quarter valued at $27,000. Finally, Halpern Financial Inc. grew its holdings in shares of Tesla by 1,111.1% during the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.