Tesla (NASDAQ:TSLA) Trading Up 1.5% on Analyst Upgrade

Shares of Tesla, Inc. (NASDAQ:TSLA) traded up 1.5% on Thursday after HSBC raised their price target on the stock from $120.00 to $130.00. The company traded as high as $271.00 and last traded at $267.17. 52,832,680 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 98,349,602 shares. The stock had previously closed at $263.26.

Other analysts have also issued reports about the stock. Jefferies Financial Group reduced their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 target price on shares of Tesla in a research report on Monday, July 1st. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research report on Friday, July 5th. Finally, Piper Sandler reissued an “overweight” rating and set a $205.00 price objective on shares of Tesla in a research report on Monday, April 22nd. Seven investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $195.39.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction 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 sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a filing with the SEC, 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 stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Tesla in the 4th quarter worth about $7,844,757,000. International Assets Investment Management LLC raised its holdings in shares of Tesla by 25,990.7% in the 4th 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 purchasing an additional 6,179,032 shares during the period. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% in the 4th 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. Healthcare of Ontario Pension Plan Trust Fund raised its holdings 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 during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of 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 worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 8.4 %

The business has a fifty day moving average price of $191.41 and a 200 day moving average price of $191.76. The company has a market capitalization of $768.69 billion, a PE ratio of 61.49, a P/E/G ratio of 6.27 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 released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $22.15 billion. Analysts expect that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

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.