Tesla Inc. (TSLA) Shares Gap Up to $363.69
Shares of Tesla Inc. (NASDAQ:TSLA) gapped up prior to trading on Tuesday . The stock had previously closed at $376.03, but opened at $363.69. Tesla shares last traded at $366.78, with a volume of 4,052,385 shares trading hands.
Several analysts recently weighed in on TSLA shares. Vetr lowered Tesla from a “strong-buy” rating to a “buy” rating and set a $385.74 price objective for the company. in a report on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $180.00 price objective (down from $190.00) on shares of Tesla in a report on Wednesday, July 5th. Royal Bank Of Canada boosted their price objective on Tesla from $314.00 to $345.00 and gave the company a “sector perform” rating in a report on Thursday, August 3rd. Guggenheim reissued a “buy” rating and issued a $430.00 price objective on shares of Tesla in a report on Thursday, August 10th. Finally, Sanford C. Bernstein set a $265.00 price objective on Tesla and gave the company a “neutral” rating in a report on Thursday, July 27th. Eight investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $313.70.
The company has a 50-day moving average of $348.02 and a 200-day moving average of $320.31. The firm’s market cap is $60.54 billion.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating the consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm’s revenue was up 119.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.06) EPS. On average, analysts anticipate that Tesla Inc. will post ($6.26) EPS for the current fiscal year.
In other Tesla news, VP Eric Branderiz sold 99 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total transaction of $34,661.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total transaction of $703,778.40. Following the sale, the director now directly owns 160,274 shares in the company, valued at $51,505,652.64. The disclosure for this sale can be found here. Insiders have sold a total of 53,946 shares of company stock worth $18,481,047 over the last three months. Insiders own 23.10% of the company’s stock.
Large investors have recently modified their holdings of the business. Pittenger & Anderson Inc. lifted its position in Tesla by 20.0% during the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after buying an additional 50 shares in the last quarter. Winfield Associates Inc. increased its stake in shares of Tesla by 85.2% during the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after purchasing an additional 150 shares during the last quarter. Acropolis Investment Management LLC acquired a new position in shares of Tesla during the 2nd quarter worth about $122,000. North Star Investment Management Corp. increased its stake in shares of Tesla by 2.8% during the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after purchasing an additional 9 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its stake in shares of Tesla by 8.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after purchasing an additional 28 shares during the last quarter. 56.67% of the stock is currently owned by hedge funds and other institutional investors.
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Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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