Tesla (NASDAQ:TSLA) Stock Price Up 0.2% After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) shares traded up 0.2% during trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $250.00 to $345.00. The Goldman Sachs Group currently has a neutral rating on the stock. Tesla traded as high as $426.92 and last traded at $425.50. 35,914,400 shares traded hands during trading, a decline of 62% from the average session volume of 94,495,805 shares. The stock had previously closed at $424.77.

A number of other research analysts also recently commented on TSLA. Wedbush reissued an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Stifel Nicolaus upped their price objective on Tesla from $287.00 to $411.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Cantor Fitzgerald increased their price target on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Wolfe Research assumed coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Nine research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $257.36.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 522,886 shares of company stock worth $171,393,831 in the last three months. 20.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

Hedge funds have recently added to or reduced their stakes in the company. Old Port Advisors bought a new stake in shares of Tesla in the second quarter worth $236,000. Wheelhouse Advisory Group LLC increased its position in shares of Tesla by 1.9% during the 2nd quarter. Wheelhouse Advisory Group LLC now owns 4,282 shares of the electric vehicle producer’s stock valued at $847,000 after purchasing an additional 78 shares during the last quarter. Blue Trust Inc. increased its position in shares of Tesla by 20.2% during the 2nd quarter. Blue Trust Inc. now owns 19,947 shares of the electric vehicle producer’s stock valued at $3,947,000 after purchasing an additional 3,356 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Tesla by 20.4% in the 2nd quarter. Brookstone Capital Management now owns 141,287 shares of the electric vehicle producer’s stock worth $27,958,000 after purchasing an additional 23,903 shares during the period. Finally, Insight Wealth Partners LLC purchased a new stake in Tesla during the second quarter valued at approximately $272,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 1.6 %

The company’s 50-day simple moving average is $294.47 and its two-hundred day simple moving average is $243.51. The firm has a market capitalization of $1.34 trillion, a P/E ratio of 116.58, a P/E/G ratio of 12.64 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. As a group, research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current 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.