Tesla (NASDAQ:TSLA) Trading 9.4% Higher

Tesla, Inc. (NASDAQ:TSLA)’s stock price was up 9.4% during trading on Tuesday . The stock traded as high as $231.15 and last traded at $229.59. Approximately 84,352,469 shares were traded during trading, a decline of 12% from the average daily volume of 95,564,094 shares. The stock had previously closed at $209.86.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TSLA shares. TD Cowen increased their target price on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday. Evercore ISI dropped their price objective on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday, April 29th. Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. UBS Group lowered their price target on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $189.47.

Tesla Price Performance

The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $180.89 and its 200-day moving average price is $190.93. The stock has a market cap of $785.79 billion, a P/E ratio of 62.85, a PEG ratio of 5.74 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its earnings results 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. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter worth about $7,844,757,000. International Assets Investment Management LLC boosted its stake in Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after acquiring an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. Morgan Stanley lifted its holdings in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Tesla by 2,101.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.