Tesla (NASDAQ:TSLA) Stock Price Up 3.2% - What's Next?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) was up 3.2% on Thursday . The company traded as high as $307.92 and last traded at $305.35. Approximately 38,791,003 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 100,254,566 shares. The stock had previously closed at $295.88.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TSLA shares. Oppenheimer restated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Guggenheim restated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a report on Tuesday. Mizuho decreased their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a report on Tuesday. Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Finally, Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $301.13.

Tesla Price Performance

The company has a market capitalization of $998.08 billion, a price-to-earnings ratio of 170.26, a PEG ratio of 8.80 and a beta of 2.39. The company's 50 day simple moving average is $322.07 and its 200-day simple moving average is $322.26. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results 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 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the business posted $0.45 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock valued at $279,420,485 over the last quarter. 20.70% of the stock is owned by insiders.

Institutional Trading of Tesla

Several institutional investors have recently added to or reduced their stakes in TSLA. Vanguard Group Inc. lifted its holdings in Tesla by 1.5% in 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 during the period. Geode Capital Management LLC lifted its holdings in Tesla by 2.8% in the fourth 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 period. Norges Bank acquired a new stake in Tesla in the 4th quarter valued at about $14,420,248,000. FMR LLC lifted its holdings in 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 acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

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.