Tesla (NASDAQ:TSLA) Stock Price Up 0.1% Following Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) rose 0.1% during trading on Friday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $123.00 to $136.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Tesla traded as high as $171.25 and last traded at $170.27. Approximately 43,083,689 shares changed hands during trading, a decline of 58% from the average daily volume of 102,489,289 shares. The stock had previously closed at $170.18.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company cut their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research report on Friday, April 12th. Royal Bank of Canada cut their price objective on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating on the stock in a research report on Wednesday. Morgan Stanley cut their price objective on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. The Goldman Sachs Group cut their price objective on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Finally, China Renaissance initiated coverage on shares of Tesla in a research report on Monday, February 26th. They issued a “hold” rating on the stock. Eight analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $186.70.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of large investors have recently added to or reduced their stakes in the stock. Wyrmwood Management LLC purchased a new position in Tesla during the fourth quarter valued at $25,000. Lam Group Inc. purchased a new position in Tesla during the fourth quarter valued at $25,000. Mendota Financial Group LLC lifted its holdings in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Tesla during the fourth quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. lifted its holdings in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.25. The firm has a market capitalization of $536.71 billion, a PE ratio of 42.93, a P/E/G ratio of 4.50 and a beta of 2.39. The company’s fifty day simple moving average is $175.04 and its 200-day simple moving average is $207.61.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.07 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal 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.