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

Tesla, Inc. (NASDAQ:TSLA)’s stock price shot up 2.1% during trading on Friday after Evercore ISI raised their price target on the stock from $195.00 to $275.00. Evercore ISI currently has an in-line rating on the stock. Tesla traded as high as $389.95 and last traded at $387.10. 28,789,549 shares traded hands during trading, a decline of 57% from the average session volume of 67,481,227 shares. The stock had previously closed at $379.28.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group increased their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Wells Fargo & Company raised their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Guggenheim boosted their price target on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $283.39.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 514,886 shares of company stock worth $169,393,831 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently bought and sold shares of the business. Central Pacific Bank Trust Division grew its holdings in shares of Tesla by 10.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,779 shares of the electric vehicle producer’s stock worth $1,930,000 after purchasing an additional 440 shares during the last quarter. Everence Capital Management Inc. boosted its position in Tesla by 9.1% in the 4th quarter. Everence Capital Management Inc. now owns 64,790 shares of the electric vehicle producer’s stock valued at $26,165,000 after buying an additional 5,420 shares during the period. Centre Asset Management LLC bought a new position in Tesla in the 4th quarter worth about $9,179,000. NRI Wealth Management LC purchased a new position in shares of Tesla during the fourth quarter worth approximately $1,084,000. Finally, GAMMA Investing LLC raised its stake in shares of Tesla by 35.4% during the fourth quarter. GAMMA Investing LLC now owns 35,709 shares of the electric vehicle producer’s stock valued at $14,421,000 after acquiring an additional 9,342 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 8.2 %

The business has a fifty day moving average of $359.54 and a 200-day moving average of $271.59. The stock has a market cap of $1.32 trillion, a PE ratio of 112.45, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. Equities research analysts anticipate that Tesla, Inc. will post 1.99 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.