Tesla (NASDAQ:TSLA) Shares Up 6.3% Following Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s share price rose 6.3% during mid-day trading 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. Approximately 42,831,031 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 99,625,438 shares. The stock had previously closed at $248.23.

A number of other analysts have also recently commented on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. The Goldman Sachs Group increased their price objective on Tesla from $175.00 to $248.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Mizuho lifted their target price on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $201.58.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 SEC, which is accessible through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on 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. 25.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lam Group Inc. bought a new stake in shares of Tesla in the fourth quarter worth about $25,000. Bank & Trust Co bought a new stake in shares of Tesla in the 2nd quarter worth approximately $25,000. Mendota Financial Group LLC increased its stake in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the period. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the fourth quarter valued at approximately $37,000. Finally, Aspect Partners LLC lifted its stake in Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 1.6 %

The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average is $195.68 and its two-hundred day moving average is $190.83. The firm has a market cap of $818.22 billion, a P/E ratio of 65.45, a PEG ratio of 6.20 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced 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. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Analysts predict that Tesla, Inc. will post 1.85 earnings per share 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.