Tesla (NASDAQ:TSLA) Stock Price Up 1.8%

Shares of Tesla, Inc. (NASDAQ:TSLA) shot up 1.8% during trading on Tuesday . The stock traded as high as $146.18 and last traded at $144.58. 35,334,399 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 100,789,367 shares. The stock had previously closed at $142.05.

Analyst Ratings Changes

Several research firms have commented on TSLA. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. KGI Securities reaffirmed a “neutral” rating and set a $213.00 price objective (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Wells Fargo & Company decreased their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, April 12th. China Renaissance initiated coverage on shares of Tesla in a report on Monday, February 26th. They set a “hold” rating for the company. Finally, Barclays decreased their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $194.33.

Tesla Stock Up 2.4 %

The firm’s 50 day moving average price is $177.59 and its 200-day moving average price is $210.05. The company has a market cap of $463.23 billion, a P/E ratio of 33.81, a price-to-earnings-growth ratio of 3.89 and a beta of 2.40. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS 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 analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 1.97 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,098 shares of company stock worth $38,802,534. Company insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently made changes to their positions in TSLA. Opal Wealth Advisors LLC raised its stake in Tesla by 1.0% in the third quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after purchasing an additional 42 shares in the last quarter. Holderness Investments Co. raised its stake in Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after acquiring an additional 42 shares in the last quarter. Wagner Wealth Management LLC raised its stake in Tesla by 1.3% during the third quarter. Wagner Wealth Management LLC now owns 3,384 shares of the electric vehicle producer’s stock worth $847,000 after acquiring an additional 44 shares in the last quarter. SCS Capital Management LLC boosted its holdings in Tesla by 0.3% in the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after acquiring an additional 45 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its holdings in Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after acquiring an additional 45 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

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.