Tesla (NASDAQ:TSLA) Stock Price Up 5.3% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) traded up 5.3% during trading on Wednesday after TD Cowen raised their price target on the stock from $160.00 to $180.00. TD Cowen currently has a hold rating on the stock. Tesla traded as high as $248.35 and last traded at $243.60. 99,398,912 shares changed hands during trading, an increase of 3% from the average session volume of 96,447,445 shares. The stock had previously closed at $231.26.

TSLA has been the topic of a number of other reports. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Wednesday, April 24th. UBS Group lowered their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Royal Bank of Canada cut their price objective on Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Evercore ISI reduced their price objective on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, April 29th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $189.47.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla 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 sale, 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 Trading of Tesla

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Apexium Financial LP boosted its stake in shares of Tesla by 736.8% in the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after purchasing an additional 21,972 shares in the last quarter. Mount Vernon Associates Inc. MD lifted its holdings in Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares during the last quarter. Forum Financial Management LP boosted its position in Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after buying an additional 3,582 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after buying an additional 6,615 shares during the last quarter. Finally, Catalyst Financial Partners LLC increased its holdings in shares of Tesla by 9.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after buying an additional 598 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 6.5 %

The company 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. The business’s 50 day moving average price is $182.57 and its 200-day moving average price is $191.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting 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%. On average, analysts anticipate that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

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.