Tesla (NASDAQ:TSLA) Trading Up 3.1% – Here’s Why

Tesla, Inc. (NASDAQ:TSLA) shares traded up 3.1% during mid-day trading on Monday . The company traded as high as $439.74 and last traded at $426.50. 94,422,250 shares were traded during trading, an increase of 18% from the average session volume of 80,357,656 shares. The stock had previously closed at $413.82.

Analyst Ratings Changes

TSLA has been the subject of several research reports. UBS Group upped their price target on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research report on Monday, November 25th. The Goldman Sachs Group increased their target price on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Canaccord Genuity Group lifted their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, fifteen have issued 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 a consensus rating of “Hold” and a consensus target price of $299.33.

Tesla Trading Up 3.1 %

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 $1.37 trillion, a PE ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The firm’s 50 day simple moving average is $389.94 and its 200-day simple moving average is $288.78.

Tesla (NASDAQ:TSLA) last posted 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 net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 over the last 90 days. 20.70% of the stock is owned by company insiders.

Institutional Trading of Tesla

Large investors have recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter valued at approximately $29,000. Clean Yield Group increased its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter worth $35,000. Finally, M&R Capital Management Inc. increased its holdings in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.