Tesla (NASDAQ:TSLA) Shares Up 2.3% – Here’s Why

Shares of Tesla, Inc. (NASDAQ:TSLA) were up 2.3% during trading on Friday . The company traded as high as $287.94 and last traded at $286.87. Approximately 35,171,957 shares were traded during trading, a decline of 63% from the average daily volume of 95,451,724 shares. The stock had previously closed at $280.52.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TSLA shares. UBS Group cut their target price on Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Truist Financial set a $280.00 target price on Tesla in a report on Tuesday, April 22nd. Morgan Stanley restated a “buy” rating and issued a $430.00 price target on shares of Tesla in a report on Tuesday, April 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $350.00 price objective on shares of Tesla in a research note on Thursday. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $287.46.

Tesla Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business’s fifty day simple moving average is $258.82 and its 200 day simple moving average is $325.18. The stock has a market cap of $925.09 billion, a price-to-earnings ratio of 140.79, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) 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 analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the firm posted $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 486,618 shares of company stock worth $155,887,459. 20.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after buying an additional 194,796 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Tesla by 8.2% during the third quarter. Franklin Resources Inc. now owns 3,958,174 shares of the electric vehicle producer’s stock valued at $1,035,577,000 after acquiring an additional 300,951 shares during the period. Nordea Investment Management AB increased its stake in shares of Tesla by 17.7% during the fourth quarter. Nordea Investment Management AB now owns 1,227,460 shares of the electric vehicle producer’s stock valued at $510,537,000 after acquiring an additional 185,014 shares during the period. CWA Asset Management Group LLC raised its holdings in Tesla by 1.8% during the fourth quarter. CWA Asset Management Group LLC now owns 23,490 shares of the electric vehicle producer’s stock worth $9,486,000 after purchasing an additional 417 shares in the last quarter. Finally, Burkett Financial Services LLC boosted its stake in Tesla by 194.8% during the 4th quarter. Burkett Financial Services LLC now owns 1,135 shares of the electric vehicle producer’s stock valued at $458,000 after purchasing an additional 750 shares in the last quarter. Institutional investors and hedge funds 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.