Tesla (NASDAQ:TSLA) Trading 1.7% Higher - What's Next?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares rose 1.7% during mid-day trading on Wednesday . The company traded as high as $367.34 and last traded at $360.09. Approximately 27,852,437 shares traded hands during trading, a decline of 63% from the average daily volume of 75,090,922 shares. The stock had previously closed at $354.11.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TSLA shares. Wells Fargo & Company upped their target price on Tesla from $125.00 to $135.00 and gave the stock an "underweight" rating in a research report on Thursday, January 30th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Piper Sandler boosted their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Robert W. Baird cut their price target on shares of Tesla from $480.00 to $440.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. Finally, Glj Research reaffirmed a "sell" rating and issued a $24.86 price target on shares of Tesla in a research report on Wednesday, February 12th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $319.57.

Tesla Trading Down 2.2 %

The firm has a market cap of $1.06 trillion, a P/E ratio of 162.03, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company's fifty day moving average price is $397.52 and its two-hundred day moving average price is $314.96.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently added to or reduced their stakes in TSLA. Norges Bank acquired a new position in Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC lifted its stake in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp lifted its stake 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 buying an additional 5,075,418 shares during the period. Institutional investors 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.