Tesla (NASDAQ:TSLA) Stock Price Up 1%

Tesla, Inc. (NASDAQ:TSLAGet Free Report)’s share price shot up 1% during mid-day trading on Thursday . The stock traded as high as $182.67 and last traded at $177.95. 33,391,463 shares changed hands during trading, a decline of 66% from the average session volume of 99,002,477 shares. The stock had previously closed at $176.19.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSLA. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Wednesday, April 17th. HSBC cut their price target on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research note on Wednesday, April 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Wednesday, April 24th. Barclays cut their target price on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, Mizuho cut their target price on Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $185.90.

Read Our Latest Research Report on Tesla

Tesla Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The business has a 50-day simple moving average of $171.92 and a 200 day simple moving average of $200.32. The firm has a market cap of $563.63 billion, a PE ratio of 45.40, a PEG ratio of 4.34 and a beta of 2.41.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Equities research analysts forecast that Tesla, Inc. will post 1.89 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the company’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 transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,597 shares of company stock valued at $35,733,686. Insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently modified their holdings of TSLA. WealthPlan Investment Management LLC lifted its stake in Tesla by 20,641.9% during the 3rd quarter. WealthPlan Investment Management LLC now owns 12,860 shares of the electric vehicle producer’s stock valued at $3,218,000 after acquiring an additional 12,798 shares during the period. Cobblestone Capital Advisors LLC NY grew its position in Tesla by 3.3% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,894 shares of the electric vehicle producer’s stock worth $474,000 after purchasing an additional 60 shares during the period. Insight Advisors LLC PA raised its position in Tesla by 0.5% during the third quarter. Insight Advisors LLC PA now owns 14,582 shares of the electric vehicle producer’s stock valued at $3,649,000 after acquiring an additional 77 shares in the last quarter. Virtus ETF Advisers LLC acquired a new position in Tesla in the third quarter valued at approximately $719,000. Finally, Americana Partners LLC increased its holdings in shares of Tesla by 122.3% during the 3rd quarter. Americana Partners LLC now owns 2,094 shares of the electric vehicle producer’s stock valued at $524,000 after purchasing an additional 1,152 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Company Profile

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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.

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