Tesla (NASDAQ:TSLA) Trading Up 0.1% – Here’s What Happened

Tesla, Inc. (NASDAQ:TSLA)’s share price traded up 0.1% during mid-day trading on Thursday . The stock traded as high as $238.00 and last traded at $236.08. 33,978,504 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 90,713,331 shares. The stock had previously closed at $235.86.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and upped their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Truist Financial increased their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Finally, Cantor Fitzgerald upgraded shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price target on the stock in a report on Wednesday. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $318.93.

Tesla Stock Up 5.3 %

The company has a market cap of $799.98 billion, a PE ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50. The business has a 50-day simple moving average of $335.19 and a 200-day simple moving average of $319.68. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock valued at $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC grew its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. boosted its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. grew its position in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC acquired a new stake in shares of Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla in the fourth quarter valued at approximately $38,000. 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.