Tesla (NASDAQ:TSLA) Trading 4.6% Higher After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s stock price traded up 4.6% during mid-day trading on Wednesday after Barclays raised their price target on the stock from $270.00 to $325.00. Barclays currently has an equal weight rating on the stock. Tesla traded as high as $418.96 and last traded at $414.56. 28,882,209 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 75,177,305 shares. The stock had previously closed at $396.36.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald boosted their price objective on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Truist Financial reaffirmed a “hold” rating and set a $360.00 price target on shares of Tesla in a research note on Thursday, January 2nd. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. The Goldman Sachs Group upped their price target on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Finally, Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $299.33.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of large investors have recently made changes to their positions in TSLA. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter worth $29,000. Clean Yield Group raised its position in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter worth $35,000. Finally, M&R Capital Management Inc. raised its position in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 8.0 %

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 company has a market cap of $1.37 trillion, a PE ratio of 117.32, a P/E/G ratio of 10.80 and a beta of 2.30. The stock has a 50-day moving average of $382.71 and a 200-day moving average of $284.69.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal 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.