Tesla (NASDAQ:TSLA) Shares Up 11.9% After Analyst Upgrade

Shares of Tesla, Inc. (NASDAQ:TSLA) rose 11.9% during mid-day trading on Wednesday 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 $167.97 and last traded at $161.83. Approximately 89,534,047 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 101,746,445 shares. The stock had previously closed at $144.68.

A number of other equities analysts have also weighed in on TSLA. The Goldman Sachs Group reduced their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. TD Cowen reduced their price objective on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Wednesday. Citigroup lifted their price objective on Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, HSBC reduced their price objective on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research note on Wednesday. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $186.70.

Insider Transactions at Tesla

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

Institutional Trading of Tesla

Several institutional investors have recently made changes to their positions in the company. Opal Wealth Advisors LLC raised its position in shares of Tesla by 1.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after buying an additional 42 shares during the period. Holderness Investments Co. raised its position in shares of Tesla by 1.6% during the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after buying an additional 42 shares during the period. SCS Capital Management LLC raised its position in shares of Tesla by 0.3% during the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after buying an additional 45 shares during the period. Daymark Wealth Partners LLC raised its position in shares of Tesla by 0.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after buying an additional 45 shares during the period. Finally, ML & R Wealth Management LLC raised its position in shares of Tesla by 2.6% during the 3rd quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock valued at $455,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 5.0 %

The stock has a market cap of $541.99 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The company’s 50-day moving average price is $175.67 and its 200 day moving average price is $208.64.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.68%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 1.97 EPS 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.