Tesla (NASDAQ:TSLA) Shares Up 1.3% - Here's What Happened

Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) traded up 1.3% during trading on Tuesday . The stock traded as high as $354.57 and last traded at $346.43. 44,000,689 shares were traded during trading, a decline of 55% from the average session volume of 96,862,314 shares. The stock had previously closed at $342.09.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TSLA shares. Mizuho increased their price target on Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday. Glj Research reissued a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. BNP Paribas set a $137.00 target price on Tesla and gave the company an "underperform" rating in a report on Wednesday, April 16th. Canaccord Genuity Group decreased their price target on shares of Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $289.43.

Tesla Stock Up 2.6%

The firm's fifty day moving average is $269.23 and its 200-day moving average is $331.30. The company has a market capitalization of $1.13 trillion, a P/E ratio of 173.29, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $22.93 billion. During the same period in the previous year, the company earned $0.45 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, Director Joseph Gebbia acquired 4,000 shares of the stock in a transaction dated Thursday, April 24th. The stock was bought at an average price of $256.31 per share, for a total transaction of $1,025,240.00. Following the purchase, the director now directly owns 4,111 shares of the company's stock, valued at $1,053,690.41. The trade was a 3,603.60% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at $7,242,273.50. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 412,623 shares of company stock valued at $115,600,501 over the last 90 days. 20.70% of the stock is owned by insiders.

Institutional Trading of Tesla

Several large investors have recently made changes to their positions in TSLA. Integrity Alliance LLC. grew its stake in Tesla by 1,213.7% in the first quarter. Integrity Alliance LLC. now owns 21,163 shares of the electric vehicle producer's stock valued at $5,485,000 after acquiring an additional 19,552 shares during the period. Ransom Advisory Ltd bought a new stake in Tesla during the 1st quarter valued at $180,000. Anchor Investment Management LLC raised its holdings in Tesla by 3.8% during the first quarter. Anchor Investment Management LLC now owns 8,712 shares of the electric vehicle producer's stock worth $2,258,000 after buying an additional 316 shares during the last quarter. Chokshi & Queen Wealth Advisors Inc lifted its stake in shares of Tesla by 156.2% in the first quarter. Chokshi & Queen Wealth Advisors Inc now owns 11,077 shares of the electric vehicle producer's stock valued at $2,871,000 after buying an additional 6,753 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co grew its holdings in shares of Tesla by 7.1% during the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 450,000 shares of the electric vehicle producer's stock valued at $116,622,000 after buying an additional 30,000 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

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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