Tesla (NASDAQ:TSLA) Trading Up 2.1% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) shares were up 2.1% on Thursday after Bank of America raised their price target on the stock from $265.00 to $350.00. Bank of America currently has a buy rating on the stock. Tesla traded as high as $294.87 and last traded at $294.59. Approximately 33,820,336 shares were traded during trading, a decline of 64% from the average daily volume of 93,995,656 shares. The stock had previously closed at $288.53.

Several other equities analysts also recently commented on TSLA. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a report on Wednesday, July 24th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, Phillip Securities upgraded shares of Tesla to a “moderate sell” rating in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $222.03.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,797 shares of company stock valued at $19,211,821. 20.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of Tesla by 0.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after acquiring an additional 331 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Tesla by 23.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 75,851 shares of the electric vehicle producer’s stock worth $13,334,000 after acquiring an additional 14,191 shares during the period. Obermeyer Wood Investment Counsel Lllp raised its holdings in shares of Tesla by 9.6% during the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 1,187 shares of the electric vehicle producer’s stock worth $209,000 after acquiring an additional 104 shares during the period. Zevenbergen Capital Investments LLC raised its holdings in shares of Tesla by 6.0% during the first quarter. Zevenbergen Capital Investments LLC now owns 1,213,406 shares of the electric vehicle producer’s stock worth $213,305,000 after acquiring an additional 68,628 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of Tesla by 105.3% during the first quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 7,800 shares of the electric vehicle producer’s stock worth $1,371,000 after acquiring an additional 4,000 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 2.9 %

The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $237.23 and its 200 day moving average is $213.07. The firm has a market capitalization of $953.10 billion, a price-to-earnings ratio of 81.35, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the business earned $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 1.96 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.