Tesla (NASDAQ:TSLA) Trading Up 0.1% – Here’s Why

Tesla, Inc. (NASDAQ:TSLA) shares rose 0.1% on Thursday . The stock traded as high as $402.50 and last traded at $394.94. Approximately 72,821,968 shares were traded during trading, a decline of 17% from the average daily volume of 87,822,344 shares. The stock had previously closed at $394.36.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TSLA shares. Stifel Nicolaus lifted their price objective on shares of Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research report on Monday. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Wedbush reiterated an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and upped their price target for the stock from $400.00 to $490.00 in a research note on Tuesday. Finally, Cantor Fitzgerald upped their target price on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $295.69.

Tesla Trading Up 0.1 %

The firm’s 50 day simple moving average is $370.78 and its 200-day simple moving average is $278.31. 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 capitalization of $1.27 trillion, a PE ratio of 108.20, a P/E/G ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 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 analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This 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, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock worth $213,451,751 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several large investors have recently modified their holdings of the stock. Wealth Group Ltd bought a new stake in Tesla in the fourth quarter valued at about $275,000. Cumberland Advisors Inc. bought a new stake in shares of Tesla in the 4th quarter valued at approximately $267,000. First Hawaiian Bank raised its position in shares of Tesla by 17.2% during the 4th quarter. First Hawaiian Bank now owns 10,724 shares of the electric vehicle producer’s stock valued at $4,331,000 after acquiring an additional 1,573 shares in the last quarter. Private Client Services LLC bought a new position in Tesla during the fourth quarter worth $206,000. Finally, Fulton Bank N.A. increased its stake in Tesla by 18.6% during the fourth quarter. Fulton Bank N.A. now owns 25,865 shares of the electric vehicle producer’s stock valued at $10,445,000 after purchasing an additional 4,059 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

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.