Tesla (NASDAQ:TSLA) Stock Price Up 0.6%

Tesla, Inc. (NASDAQ:TSLA) was up 0.6% during mid-day trading on Friday . The company traded as high as $259.38 and last traded at $255.62. Approximately 25,075,991 shares traded hands during trading, a decline of 74% from the average daily volume of 95,549,180 shares. The stock had previously closed at $254.22.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TSLA shares. Royal Bank of Canada reiterated an “outperform” rating and set a $224.00 price objective on shares of Tesla in a research note on Wednesday. Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Citigroup lowered their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Roth Mkm restated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Finally, TD Cowen raised their target price on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $209.90.

Tesla Stock Up 1.5 %

The firm has a market cap of $824.38 billion, a PE ratio of 65.21, a PEG ratio of 6.92 and a beta of 2.29. The business’s 50 day moving average price is $221.47 and its 200 day moving average price is $197.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. On average, equities research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently added to or reduced their stakes in TSLA. Bank & Trust Co acquired a new stake in Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter valued at $26,000. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the fourth quarter valued at $37,000. Finally, Kessler Investment Group LLC boosted its stake in Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.