Tesla (NASDAQ:TSLA) Shares Up 5.1% - Here's Why

Key Points

• Tesla shares saw a significant increase of 5.1% on Friday, trading as high as $337.70 after closing at $320.11.
• Analysts have mixed ratings on Tesla, with one Strong Buy, 17 Buy, 15 Hold, and 9 Sell ratings, resulting in an average rating of "Hold" and a consensus price target of $303.31.
• Recent insider trading revealed significant sales, including a sale of 15,000 shares by SVP Xiaotong Zhu and 91,588 shares by Director Kimbal Musk, reducing their holdings considerably.

Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shot up 5.1% during trading on Friday . The stock traded as high as $337.70 and last traded at $336.39. 37,021,848 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 104,525,352 shares. The stock had previously closed at $320.11.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Canaccord Genuity Group upped their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. China Renaissance restated a "hold" rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Finally, Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Trading Up 6.2%

The company has a market cap of $1.10 trillion, a PE ratio of 196.54, a price-to-earnings-growth ratio of 11.26 and a beta of 2.33. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $320.98 and a 200-day simple moving average of $303.96.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the previous year, the firm earned $0.52 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC raised its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its stake in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Chapman Financial Group LLC purchased a new position in shares of Tesla during the second quarter valued at approximately $26,000. Newton One Investments LLC grew its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the period. Finally, Arcadia Investment Management Corp MI purchased a new stake in Tesla in the first quarter valued at approximately $27,000. Hedge funds and other 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.

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