Tesla (NASDAQ:TSLA) Trading Up 2.1% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s stock price shot up 2.1% during trading on Friday after Evercore ISI raised their price target on the stock from $195.00 to $275.00. Evercore ISI currently has an in-line rating on the stock. Tesla traded as high as $389.95 and last traded at $387.10. 28,789,549 shares traded hands during trading, a decline of 57% from the average session volume of 67,481,227 shares. The stock had previously closed at $379.28.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. raised their price target on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Canaccord Genuity Group upped their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald increased their price target on shares of Tesla from $255.00 to $365.00 and gave the company 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $283.39.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 514,886 shares of company stock worth $169,393,831. 20.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds and other institutional investors have recently made changes to their positions in TSLA. International Assets Investment Management LLC grew its position in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares during the period. Clean Energy Transition LLP lifted its position in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after purchasing an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC increased its position in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. 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 worth $6,377,970,000 after buying an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after buying an additional 2,511,488 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 2.1 %

The company has a market capitalization of $1.24 trillion, a PE ratio of 106.05, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The company’s fifty day moving average is $359.54 and its 200-day moving average is $271.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. As a group, analysts predict that Tesla, Inc. will post 1.99 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.