Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares were up 3.2% on Thursday . The stock traded as high as $307.92 and last traded at $305.35. Approximately 38,791,003 shares changed hands during trading, a decline of 61% from the average daily volume of 100,254,566 shares. The stock had previously closed at $295.88.
Analysts Set New Price Targets
Several research analysts recently weighed in on TSLA shares. Barclays reduced their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Glj Research restated a "sell" rating and set a $19.05 price target (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. UBS Group set a $290.00 price target on shares of Tesla in a research report on Monday, June 30th. Finally, Oppenheimer restated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $300.19.
Check Out Our Latest Research Report on Tesla
Tesla Price Performance
The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The company has a market cap of $1.01 trillion, a PE ratio of 172.26, a PEG ratio of 9.33 and a beta of 2.39. The company's 50-day simple moving average is $322.60 and its 200 day simple moving average is $319.32.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results 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 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the business earned $0.45 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 over the last quarter. Company insiders own 20.70% of the company's stock.
Institutional Investors Weigh In On Tesla
Hedge funds and other institutional investors have recently modified their holdings of the company. 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 worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank raised its stake in 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 acquiring an additional 42 shares in the last quarter. Newton One Investments LLC raised its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Tesla during the 1st quarter worth $27,000. Finally, True Wealth Design LLC raised its stake in Tesla by 79.5% during the 4th 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 in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.
About Tesla
(
Get Free Report)
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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