Tesla (NASDAQ:TSLA) Sees Strong Trading Volume

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) saw strong trading volume on Monday . 46,668,203 shares were traded during trading, a decline of 54% from the previous session's volume of 102,447,133 shares.The stock last traded at $188.41 and had previously closed at $168.29.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Oppenheimer reaffirmed a "market perform" rating on shares of Tesla in a research report on Wednesday, April 24th. Bank of America raised Tesla from a "neutral" rating to a "buy" rating and set a $220.00 price objective for the company in a report on Wednesday, April 24th. Morgan Stanley decreased their price objective on Tesla from $320.00 to $310.00 and set an "overweight" rating for the company in a report on Thursday, April 4th. Royal Bank of Canada decreased their price objective on Tesla from $294.00 to $293.00 and set an "outperform" rating for the company in a report on Wednesday, April 24th. Finally, Redburn Atlantic initiated coverage on Tesla in a report on Wednesday, January 24th. They issued a "sell" rating and a $170.00 price objective for the company. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus price target of $184.32.

Tesla Trading Up 15.3 %

The stock has a market cap of $618.86 billion, a P/E ratio of 48.47, a P/E/G ratio of 4.45 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a 50-day moving average price of $175.04 and a 200-day moving average price of $207.22.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently made changes to their positions in TSLA. Norges Bank bought a new stake in shares of Tesla during the fourth quarter valued at approximately $7,844,757,000. International Assets Investment Management LLC increased its position in Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer's stock worth $1,541,273,000 after buying an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. increased its position in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer's stock worth $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. California Public Employees Retirement System increased its position in Tesla by 34.0% in the third quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer's stock worth $2,260,039,000 after buying an additional 2,293,344 shares in the last quarter. Finally, Morgan Stanley increased its position in Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer's stock worth $7,546,823,000 after buying an additional 2,177,397 shares in the last quarter. 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.