Tesla (NASDAQ:TSLA) Trading 2% Higher on Analyst Upgrade

Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) rose 2% on Thursday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $123.00 to $136.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Tesla traded as high as $166.38 and last traded at $165.39. Approximately 45,566,008 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 102,183,336 shares. The stock had previously closed at $162.13.

TSLA has been the subject of a number of other research reports. Oppenheimer restated a "market perform" rating on shares of Tesla in a report on Wednesday. Morgan Stanley lowered their price target on shares of Tesla from $320.00 to $310.00 and set an "overweight" rating for the company in a report on Thursday, April 4th. Roth Mkm reiterated a "neutral" rating and set a $85.00 price target on shares of Tesla in a report on Wednesday. Royal Bank of Canada lowered their price target on shares of Tesla from $294.00 to $293.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Tesla from $130.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 3rd. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $186.70.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the firm's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company's stock, valued at approximately $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company's stock, valued at approximately $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,098 shares of company stock valued at $38,802,534. Insiders own 25.10% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC lifted its holdings in shares of Tesla by 1.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer's stock worth $1,089,000 after acquiring an additional 42 shares during the period. Holderness Investments Co. raised its holdings in Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer's stock valued at $650,000 after buying an additional 42 shares during the period. SCS Capital Management LLC raised its holdings in Tesla by 0.3% in the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer's stock valued at $4,224,000 after buying an additional 45 shares during the period. Daymark Wealth Partners LLC raised its holdings in Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer's stock valued at $2,622,000 after buying an additional 45 shares during the period. Finally, ML & R Wealth Management LLC raised its holdings in Tesla by 2.6% in the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer's stock valued at $455,000 after buying an additional 46 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

The company has a market cap of $541.99 billion, a PE ratio of 42.02, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. The business's 50 day moving average price is $176.28 and its 200-day moving average price is $208.91. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analysts' expectations of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.68%. The company's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 EPS. As a group, analysts forecast that Tesla, Inc. will post 1.97 earnings per share for the current 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.