Tesla (NASDAQ:TSLA) Stock Price Up 1.8% - Here's What Happened

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s share price rose 1.8% during mid-day trading on Thursday . The stock traded as high as $367.71 and last traded at $363.23. Approximately 33,012,314 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 97,470,045 shares. The stock had previously closed at $356.90.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Piper Sandler set a $400.00 target price on shares of Tesla in a report on Tuesday, May 6th. Raymond James cut shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Oppenheimer restated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Robert W. Baird cut their target price on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Tesla has an average rating of "Hold" and an average price target of $293.97.

Tesla Trading Up 0.5%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company's fifty day simple moving average is $285.70 and its 200-day simple moving average is $333.80. The company has a market capitalization of $1.16 trillion, a P/E ratio of 176.57, a PEG 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 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the previous year, the business earned $0.45 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director now owns 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 984,783 shares of company stock valued at $320,019,942. 20.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC increased its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. increased its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. boosted its stake in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in shares of Tesla in the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla in the 4th quarter valued at about $38,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.