Tesla (NASDAQ:TSLA) Shares Up 0.1% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) rose 0.1% during trading on Friday 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 $171.25 and last traded at $170.27. Approximately 43,083,689 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 102,489,289 shares. The stock had previously closed at $170.18.

Several other equities analysts also recently weighed in on TSLA. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Wednesday. HSBC lowered their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday. Citigroup raised their price target on Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a research note on Monday. Finally, Truist Financial cut their target price on Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday. Eight equities 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. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $186.70.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 over the last ninety days. Company insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several hedge funds and other institutional investors have recently modified their holdings of TSLA. Wyrmwood Management LLC purchased a new stake in Tesla in the fourth quarter worth $25,000. Lam Group Inc. bought a new position in shares of Tesla in the fourth quarter worth about $25,000. Mendota Financial Group LLC increased its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV lifted its holdings in Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new stake 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 Price Performance

The firm has a market capitalization of $543.23 billion, a P/E ratio of 43.44, a P/E/G ratio of 4.28 and a beta of 2.39. The stock’s 50 day simple moving average is $175.67 and its 200 day simple moving average is $208.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the company earned $1.07 EPS. As a group, analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

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.