Tesla (NASDAQ:TSLA) Shares Up 0.3% - What's Next?

Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shot up 0.3% on Wednesday . The company traded as high as $347.22 and last traded at $344.87. 33,429,251 shares traded hands during trading, a decline of 66% from the average session volume of 97,094,739 shares. The stock had previously closed at $343.82.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TSLA. TD Cowen raised 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 research report on Friday, March 7th. Royal Bank of Canada dropped their target price on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Bank of America decreased their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Morgan Stanley reaffirmed a "buy" rating and set a $430.00 price objective on shares of Tesla in a research report on Tuesday, April 22nd. Finally, Truist Financial set a $280.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $289.43.

Tesla Price Performance

The stock's 50 day moving average price is $271.29 and its 200-day moving average price is $331.39. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.12 trillion, a PE ratio of 169.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the company earned $0.45 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $23,300,200. This represents a 56.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated 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 transaction, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. This trade represents a 9.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,623 shares of company stock worth $116,650,831 over the last three months. 20.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new position in Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC grew its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

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.

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