Tesla (NASDAQ:TSLA) Shares Gap Up to $209.86

Tesla, Inc. (NASDAQ:TSLA) gapped up prior to trading on Tuesday . The stock had previously closed at $209.86, but opened at $218.89. Tesla shares last traded at $220.88, with a volume of 21,318,918 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TSLA shares. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Wednesday, April 24th. UBS Group reduced their price target on Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Mizuho lowered their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Barclays reduced their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, Jefferies Financial Group lowered their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $187.30.

Tesla Stock Performance

The firm has a 50 day moving average of $177.80 and a 200-day moving average of $191.38. The stock has a market capitalization of $723.88 billion, a PE ratio of 57.61, a P/E/G ratio of 4.91 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Research analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Norges Bank acquired a new position in shares of Tesla during the 4th quarter valued at about $7,844,757,000. Morgan Stanley increased its holdings in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tesla by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after acquiring an additional 458,804 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

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.