Tesla (NASDAQ:TSLA) Trading Up 2.6% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA)’s share price shot up 2.6% on Monday . The stock traded as high as $474.07 and last traded at $468.37. 84,009,610 shares changed hands during trading, a decline of 17% from the average session volume of 101,202,273 shares. The stock had previously closed at $456.56.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. New Street Research boosted their price objective on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Piper Sandler boosted their price target on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Barclays reaffirmed a “negative” rating and issued a $350.00 price objective (up previously from $275.00) on shares of Tesla in a research note on Thursday, October 16th. CICC Research boosted their price objective on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Finally, UBS Group set a $247.00 target price on shares of Tesla in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and eleven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $390.27.

Tesla Stock Performance

The firm has a market capitalization of $1.56 trillion, a PE ratio of 312.25, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The business’s fifty day simple moving average is $410.52 and its 200-day simple moving average is $348.87.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently bought and sold shares of TSLA. Manning & Napier Advisors LLC purchased a new position in Tesla in the third quarter worth about $29,000. Westend Capital Management LLC purchased a new stake in Tesla during the third quarter valued at approximately $32,000. Chapman Financial Group LLC bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $26,000. LGT Financial Advisors LLC purchased a new position in shares of Tesla in the 2nd quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla during the 2nd quarter valued at approximately $30,000. Hedge funds and other 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.