Tesla (NASDAQ:TSLA) Stock Price Up 6.3% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s share price shot up 6.3% on Monday after Citigroup raised their price target on the stock from $182.00 to $274.00. Citigroup currently has a neutral rating on the stock. Tesla traded as high as $264.74 and last traded at $263.80. 42,831,031 shares changed hands during trading, a decline of 57% from the average session volume of 99,625,438 shares. The stock had previously closed at $248.23.

TSLA has been the topic of several other research reports. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Wednesday, April 24th. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. Finally, Truist Financial reissued a “hold” rating and set a $162.00 target price on shares of Tesla in a research report on Wednesday, July 3rd. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $201.58.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were 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 in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were 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 of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were 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 of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently made changes to their positions in the company. Sapient Capital LLC grew its position in Tesla by 4.1% in the 2nd quarter. Sapient Capital LLC now owns 11,771 shares of the electric vehicle producer’s stock worth $2,329,000 after purchasing an additional 468 shares during the period. Prospect Financial Services LLC grew its position in Tesla by 10.1% in the 2nd quarter. Prospect Financial Services LLC now owns 7,587 shares of the electric vehicle producer’s stock worth $1,501,000 after purchasing an additional 699 shares during the period. Parisi Gray Wealth Management grew its position in Tesla by 3.1% in the 2nd quarter. Parisi Gray Wealth Management now owns 10,377 shares of the electric vehicle producer’s stock worth $2,053,000 after purchasing an additional 312 shares during the period. Lpwm LLC grew its position in Tesla by 17.6% in the 2nd quarter. Lpwm LLC now owns 2,274 shares of the electric vehicle producer’s stock worth $450,000 after purchasing an additional 340 shares during the period. Finally, Crestmont Private Wealth LLC purchased a new position in shares of Tesla during the 2nd quarter worth $201,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 6.0 %

The company’s 50 day moving average price is $192.75 and its two-hundred day moving average price is $190.78. The firm has a market cap of $839.49 billion, a PE ratio of 66.96, a PEG ratio of 6.20 and a beta of 2.31. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, equities research analysts expect that Tesla, Inc. will post 1.85 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.