Tesla (NASDAQ:TSLA) Stock Price Up 1.8%

Tesla, Inc. (NASDAQ:TSLA)’s share price traded up 1.8% during trading on Tuesday . The company traded as high as $146.18 and last traded at $144.58. 35,334,399 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 100,789,367 shares. The stock had previously closed at $142.05.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, April 2nd. Canaccord Genuity Group reduced their target price on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. UBS Group reduced their target price on Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 target price on shares of Tesla in a report on Wednesday, March 27th. Finally, Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research report on Friday. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $194.33.

Tesla Stock Performance

The business has a fifty day simple moving average of $177.59 and a two-hundred day simple moving average of $210.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The company has a market cap of $463.23 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 3.89 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. Research analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors have recently modified their holdings of the company. Mount Vernon Associates Inc. MD lifted its position in Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares during the last quarter. Oak Ridge Investments LLC increased its stake in shares of Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after acquiring an additional 1,405 shares during the period. Corient Private Wealth LLC increased its stake in shares of Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after acquiring an additional 25,943 shares during the period. J.W. Cole Advisors Inc. grew its position 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 period. Finally, Nordea Investment Management AB grew its position in Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after buying an additional 81,729 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.