Tesla (NASDAQ:TSLA) Trading 2.3% Higher - Here's Why

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares shot up 2.3% on Friday . The stock traded as high as $287.94 and last traded at $286.87. 35,171,957 shares changed hands during trading, a decline of 63% from the average session volume of 95,451,724 shares. The stock had previously closed at $280.52.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Canaccord Genuity Group decreased their target price on shares of Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. StockNews.com lowered shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Barclays lowered their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, Mizuho decreased their target price on Tesla from $375.00 to $325.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $287.46.

Tesla Trading Up 2.4 %

The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $258.82 and a 200-day moving average price of $324.47. The company has a market capitalization of $925.09 billion, a price-to-earnings ratio of 140.79, a P/E/G ratio of 5.86 and a beta of 2.58.

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 analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the business earned $0.45 EPS. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at $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. Insiders sold a total of 486,618 shares of company stock valued at $155,887,459 in the last ninety days. Company insiders own 20.70% of the company's stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently made changes to their positions in the company. True Wealth Design LLC grew its holdings 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 during the last quarter. Horrell Capital Management Inc. raised its stake 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 during the period. GS Investments Inc. lifted its holdings in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC acquired a new position in Tesla in the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla in the fourth quarter worth about $38,000. Institutional investors and hedge funds 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.

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