Tesla (NASDAQ:TSLA) Shares Up 1.2% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s share price was up 1.2% during trading on Friday after Guggenheim raised their price target on the stock from $156.00 to $175.00. Guggenheim currently has a sell rating on the stock. Tesla traded as high as $377.52 and last traded at $373.96. Approximately 26,162,337 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 94,457,609 shares. The stock had previously closed at $369.49.

Several other equities research analysts also recently commented on the company. Stifel Nicolaus boosted their target price on Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Glj Research reissued a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Thursday, October 17th. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Truist Financial boosted their target price on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Finally, William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $245.84.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 520,280 shares of company stock worth $170,418,640 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Several institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its stake in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP boosted its stake in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after buying an additional 2,511,488 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

The business has a 50 day moving average of $282.96 and a 200 day moving average of $236.89. The company has a market capitalization of $1.25 trillion, a P/E ratio of 106.64, a price-to-earnings-growth ratio of 11.41 and a beta of 2.36. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.