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

Tesla, Inc. (NASDAQ:TSLA)’s share price rose 2.1% during mid-day 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. Approximately 28,789,549 shares were traded during trading, a decline of 57% from the average daily volume of 67,481,227 shares. The stock had previously closed at $379.28.

Other research analysts also recently issued research reports about the stock. Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Jefferies Financial Group raised their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group raised their target price on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Nine equities 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 stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $283.39.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the 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 sale, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 514,886 shares of company stock worth $169,393,831. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TSLA. Geode Capital Management LLC lifted its stake in shares of Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares during the period. FMR LLC increased its holdings in Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $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 position in Tesla by 13.7% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake in Tesla by 1.9% during the 3rd 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 acquiring an additional 301,968 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after acquiring an additional 1,294,093 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 2.1 %

The stock has a market cap of $1.24 trillion, a PE ratio of 106.05, a PEG 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 current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.