Tesla (NASDAQ:TSLA) Shares Up 7.4% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA) shot up 7.4% on Wednesday . The company traded as high as $462.78 and last traded at $462.28. 59,551,754 shares changed hands during trading, a decline of 37% from the average session volume of 95,172,773 shares. The stock had previously closed at $430.60.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. Guggenheim upped their price target on shares of Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research report on Thursday, December 5th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Truist Financial lifted their target price on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Royal Bank of Canada increased their price target on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group lifted their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $272.06.

Tesla Price Performance

The firm has a market cap of $1.48 trillion, a P/E ratio of 126.65, a PEG ratio of 10.80 and a beta of 2.36. The business’s fifty day simple moving average is $331.97 and its 200-day simple moving average is $260.84. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

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

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 514,886 shares of company stock valued at $169,393,831. 20.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently bought and sold shares of the stock. SMART Wealth LLC bought a new position in shares of Tesla during the 3rd quarter valued at about $208,000. DGS Capital Management LLC raised its position in Tesla by 17.3% in the 3rd quarter. DGS Capital Management LLC now owns 3,804 shares of the electric vehicle producer’s stock worth $995,000 after purchasing an additional 560 shares during the period. Boulder Wealth Advisors LLC bought a new stake in Tesla in the third quarter worth $232,000. Oriental Harbor Investment Fund purchased a new stake in Tesla during the third quarter valued at about $14,700,000. Finally, Inspire Trust Co. N.A. grew its stake in shares of Tesla by 23.3% during the third quarter. Inspire Trust Co. N.A. now owns 8,200 shares of the electric vehicle producer’s stock valued at $2,145,000 after buying an additional 1,548 shares during the last quarter. 66.20% of the stock is currently owned by 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.