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

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares traded up 1.8% during mid-day trading on Thursday . The stock traded as high as $329.32 and last traded at $322.05. 94,677,402 shares changed hands during trading, a decline of 6% from the average session volume of 100,787,054 shares. The stock had previously closed at $316.35.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. UBS Group cut their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Barclays cut their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Benchmark reaffirmed a "buy" rating and set a $350.00 target price on shares of Tesla in a report on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $293.67.

Tesla Price Performance

The stock has a market capitalization of $1.04 trillion, a P/E ratio of 176.95, a price-to-earnings-growth ratio of 11.88 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company's 50-day simple moving average is $303.42 and its 200-day simple moving average is $332.59.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly 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 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 the consensus estimate of $22.93 billion. During the same quarter last year, the company posted $0.45 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 1,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at $682,500. The trade was a 33.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last quarter. Company insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TSLA. True Wealth Design LLC increased 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 during the period. Horrell Capital Management Inc. increased its position in shares of Tesla by 75.6% in the fourth 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 during the period. GS Investments Inc. raised its stake in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC bought a new stake in Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 66.20% of the company's stock.

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.

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