Tesla (NASDAQ:TSLA) Stock Price Up 10.2% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares rose 10.2% during trading on Monday after UBS Group raised their price target on the stock from $190.00 to $215.00. UBS Group currently has a sell rating on the stock. Tesla traded as high as $356.20 and last traded at $355.01. Approximately 74,597,371 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 101,100,579 shares. The stock had previously closed at $322.16.

A number of other equities analysts have also commented on the company. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Morgan Stanley reissued an "overweight" rating and set a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Royal Bank Of Canada reduced their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $298.37.

Insiders Place Their Bets

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia acquired 4,000 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were bought at an average price of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the acquisition, the director now owns 4,111 shares of the company's stock, valued at $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. lifted 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 buying an additional 34 shares in the last quarter. GS Investments Inc. boosted its stake in shares of Tesla by 193.3% during 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 bought a new position in shares of Tesla in the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla in the 4th quarter valued at about $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 0.5%

The firm has a fifty day moving average of $311.59 and a 200-day moving average of $331.45. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.05 trillion, a P/E ratio of 179.00, a price-to-earnings-growth ratio of 12.25 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.