Tesla (NASDAQ:TSLA) Trading 0.1% Higher – What’s Next?

Tesla, Inc. (NASDAQ:TSLA)’s share price traded up 0.1% on Thursday . The stock traded as high as $238.00 and last traded at $236.08. 33,978,504 shares traded hands during trading, a decline of 63% from the average session volume of 90,713,331 shares. The stock had previously closed at $235.86.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald raised Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective for the company in a research report on Wednesday. UBS Group lowered their price objective on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research report on Monday, March 10th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and upped their price target for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $550.00 price target on shares of Tesla in a report on Thursday. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $319.56.

Tesla Stock Down 0.6 %

The firm has a market cap of $754.13 billion, a price-to-earnings ratio of 115.25, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $341.28 and a 200-day moving average of $320.02.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by company insiders.

Institutional Trading of Tesla

Several institutional investors have recently modified their holdings of the company. M1 Capital Management LLC acquired a new stake in shares of Tesla in the fourth quarter valued at $863,000. Chancellor Financial Group WB LP acquired a new stake in shares of Tesla in the fourth quarter valued at $577,000. 111 Capital acquired a new stake in shares of Tesla in the fourth quarter valued at $8,977,000. Thoma Capital Management LLC acquired a new stake in shares of Tesla in the fourth quarter valued at $1,130,000. Finally, NorthCrest Asset Manangement LLC lifted its holdings in shares of Tesla by 36.8% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 11,989 shares of the electric vehicle producer’s stock valued at $4,842,000 after buying an additional 3,224 shares during the period. Institutional investors and hedge funds 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.