Tesla (NASDAQ:TSLA) Stock Price Up 2% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s stock price rose 2% on Thursday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $123.00 to $136.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Tesla traded as high as $166.38 and last traded at $165.39. Approximately 45,566,008 shares traded hands during trading, a decline of 55% from the average daily volume of 102,183,336 shares. The stock had previously closed at $162.13.

Several other analysts also recently weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Truist Financial reduced their price objective on shares of Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday. Wells Fargo & Company cut their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Finally, Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and cut their target price for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $186.70.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 in the last ninety days. 25.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Wyrmwood Management LLC purchased a new position in Tesla in the 4th quarter valued at about $25,000. Lam Group Inc. purchased a new position in Tesla in the 4th quarter valued at about $25,000. Mendota Financial Group LLC lifted its holdings in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV lifted its holdings in Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in Tesla in the 4th quarter valued at about $37,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

The company has a market capitalization of $541.99 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock’s fifty day simple moving average is $175.67 and its 200-day simple moving average is $208.64.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 13.68% and a net margin of 14.37%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current 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.