Tesla (NASDAQ:TSLA) Shares Gap Up to $248.50

Shares of Tesla, Inc. (NASDAQ:TSLA) gapped up before the market opened on Monday . The stock had previously closed at $248.50, but opened at $264.27. Tesla shares last traded at $261.61, with a volume of 26,113,700 shares.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSLA. Wells Fargo & Company boosted their price objective on shares of Tesla from $170.00 to $265.00 and gave the stock an “equal weight” rating in a report on Monday, July 17th. Jefferies Financial Group upped their price target on shares of Tesla from $185.00 to $265.00 and gave the company a “hold” rating in a report on Monday, July 10th. Mizuho raised their price objective on shares of Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Wedbush upped their target price on Tesla from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. Finally, Barclays cut Tesla from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $220.00 to $260.00 in a report on Wednesday, June 21st. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $238.77.

Tesla Price Performance

The company has a market cap of $870.91 billion, a PE ratio of 75.07, a price-to-earnings-growth ratio of 3.92 and a beta of 2.09. The business’s 50 day moving average price is $256.44 and its 200-day moving average price is $218.36. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The firm had revenue of $24.93 billion during the quarter, compared to the consensus estimate of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The firm’s revenue was up 47.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.94 earnings per share for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 2,500 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $650,000.00. Following the completion of the transaction, the senior vice president now owns 65,438 shares of the company’s stock, valued at $17,013,880. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Xiaotong Zhu sold 2,500 shares of Tesla stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $650,000.00. Following the sale, the senior vice president now directly owns 65,438 shares in the company, valued at $17,013,880. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the sale, the senior vice president now owns 66,834 shares in the company, valued at $16,249,350.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,315 shares of company stock valued at $15,034,135. 25.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. State Street Corp raised its holdings in Tesla by 4.4% during the 2nd quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock worth $27,254,286,000 after buying an additional 4,431,570 shares during the period. Geode Capital Management LLC raised its holdings in Tesla by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 51,656,526 shares of the electric vehicle producer’s stock worth $13,484,212,000 after buying an additional 1,608,559 shares during the period. FMR LLC grew its stake in Tesla by 3.9% during the 1st quarter. FMR LLC now owns 33,326,389 shares of the electric vehicle producer’s stock valued at $6,913,893,000 after acquiring an additional 1,244,230 shares in the last quarter. Norges Bank purchased a new position in Tesla during the 4th quarter valued at about $3,459,540,000. Finally, Moneta Group Investment Advisors LLC grew its stake in Tesla by 180,125.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after acquiring an additional 26,836,879 shares in the last quarter. 41.87% 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. It 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, retail merchandise, and vehicle insurance services.