Tesla (NASDAQ:TSLA) Shares Up 2.1% – Here’s What Happened

Tesla, Inc. (NASDAQ:TSLA)’s share price was up 2.1% during trading on Friday . The company traded as high as $342.19 and last traded at $339.85. Approximately 16,333,509 shares changed hands during trading, a decline of 83% from the average daily volume of 95,140,461 shares. The stock had previously closed at $332.89.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TSLA shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research note on Wednesday, October 23rd. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Friday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. Finally, Guggenheim boosted their price objective on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $231.06.

Tesla Stock Up 2.2 %

The firm has a 50 day moving average of $272.41 and a 200 day moving average of $230.60. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 93.11, a PEG ratio of 10.81 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping 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 analysts’ expectations of $25.47 billion. During the same quarter last year, the firm posted $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 over the last 90 days. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Tesla by 1.8% in the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after buying an additional 1,022,589 shares during the period. FMR LLC raised its stake in shares of Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after buying an additional 301,968 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares during the period. 66.20% of the stock is currently owned by institutional investors.

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.