Tesla (NASDAQ:TSLA) Sets New 1-Year High After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s stock price reached a new 52-week high during mid-day trading on Monday after UBS Group raised their price target on the stock from $197.00 to $226.00. UBS Group currently has a sell rating on the stock. Tesla traded as high as $361.93 and last traded at $349.77, with a volume of 19615025 shares traded. The stock had previously closed at $352.56.

TSLA has been the subject of several other research reports. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Royal Bank of Canada upped their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Wolfe Research assumed coverage on shares of Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Guggenheim upped their price objective on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Nine research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $231.06.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 301,187 shares of company stock valued at $92,956,692. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its holdings in Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after buying an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management boosted its stake in Tesla by 109.6% in the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after purchasing an additional 4,929 shares in the last quarter. Savvy Advisors Inc. boosted its stake in Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after purchasing an additional 1,467 shares in the last quarter. Blackhawk Capital Partners LLC. lifted its stake in Tesla by 102.0% during the 3rd quarter. Blackhawk Capital Partners LLC. now owns 5,598 shares of the electric vehicle producer’s stock valued at $1,465,000 after acquiring an additional 2,827 shares during the period. Finally, West Family Investments Inc. lifted its stake in Tesla by 20.8% during the 3rd quarter. West Family Investments Inc. now owns 9,026 shares of the electric vehicle producer’s stock valued at $2,361,000 after acquiring an additional 1,556 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm’s 50 day simple moving average is $266.31 and its 200 day simple moving average is $227.97. The firm has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 92.76, a PEG ratio of 11.45 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, topping analysts’ consensus estimates of $0.58 by $0.14. The company 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%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. Sell-side analysts forecast 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.