Tesla (NASDAQ:TSLA) Trading 0.3% Higher

Shares of Tesla, Inc. (NASDAQ:TSLA) shot up 0.3% during mid-day trading on Wednesday . The stock traded as high as $181.58 and last traded at $178.17. 33,457,066 shares traded hands during trading, a decline of 67% from the average session volume of 102,249,883 shares. The stock had previously closed at $177.67.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TSLA shares. Barclays cut their price target on Tesla from $250.00 to $225.00 and set an “equal weight” rating for the company in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $218.00 to $200.00 and set a “buy” rating for the company in a report on Thursday. Piper Sandler reduced their target price on Tesla from $295.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 5th. Jefferies Financial Group dropped their target price on Tesla from $225.00 to $185.00 and set a “hold” rating for the company in a research report on Monday, January 29th. Finally, Redburn Atlantic started coverage on Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price objective for the company. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $204.63.

Tesla Price Performance

The company has a market cap of $559.85 billion, a price-to-earnings ratio of 40.79, a price-to-earnings-growth ratio of 4.06 and a beta of 2.41. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $187.78 and a two-hundred day simple moving average of $222.06.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the business earned $1.07 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold 198,598 shares of company stock worth $36,952,434 over the last three months. 25.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

A number of large investors have recently modified their holdings of the company. Contravisory Investment Management Inc. acquired a new position in Tesla during the 3rd quarter worth approximately $25,000. Wyrmwood Management LLC acquired a new position in shares of Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. bought a new stake in Tesla during the fourth quarter valued at $25,000. Alpha Paradigm Partners LLC bought a new stake in shares of Tesla during the 3rd quarter valued at about $27,000. Finally, Halpern Financial Inc. boosted its stake in Tesla by 1,111.1% in the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by hedge funds and other 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. 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.