Tesla (NASDAQ:TSLA) Trading Up 2.2% After Analyst Upgrade

Shares of Tesla, Inc. (NASDAQ:TSLA) were up 2.2% during trading on Friday after Jefferies Financial Group raised their price target on the stock from $195.00 to $300.00. Jefferies Financial Group currently has a hold rating on the stock. Tesla traded as high as $320.13 and last traded at $318.10. Approximately 44,128,813 shares changed hands during trading, a decline of 54% from the average daily volume of 95,711,000 shares. The stock had previously closed at $311.18.

Several other research analysts also recently commented on TSLA. Wells Fargo & Company raised their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Phillip Securities raised shares of Tesla to a “moderate sell” rating in a research note on Friday, October 25th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. Finally, Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $228.24.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s 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 completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,797 shares of company stock valued at $57,616,781. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently modified their holdings of TSLA. Connable Office Inc. lifted its holdings in Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after acquiring an additional 38 shares during the period. Community Bank N.A. boosted its holdings in shares of Tesla by 4.4% in the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares during the last quarter. Holistic Financial Partners grew its position in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares during the period. Integris Wealth Management LLC raised its position in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the period. Finally, Sherrill & Hutchins Financial Advisory Inc boosted its stake in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

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 stock has a market cap of $1.02 trillion, a P/E ratio of 87.15, a P/E/G ratio of 10.73 and a beta of 2.29. The business’s 50-day moving average price is $250.10 and its 200-day moving average price is $219.58.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect 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.