Tesla (NASDAQ:TSLA) Stock Price Up 1.1% After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s share price traded up 1.1% during trading on Monday after Stifel Nicolaus raised their price target on the stock from $483.00 to $508.00. Stifel Nicolaus currently has a buy rating on the stock. Tesla traded as high as $423.96 and last traded at $408.92. 100,371,454 shares traded hands during trading, a decline of 0% from the average session volume of 100,725,602 shares. The stock had previously closed at $404.35.

Several other research firms also recently commented on TSLA. Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a research note on Wednesday, November 5th. HSBC raised their price target on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. The Goldman Sachs Group decreased their target price on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Finally, Morgan Stanley restated an “overweight” rating on shares of Tesla in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $394.31.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Tesla during the second quarter worth $11,839,824,000. Goldman Sachs Group Inc. lifted its stake in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in Tesla during the 1st quarter valued at about $3,247,619,000. Kingstone Capital Partners Texas LLC grew its position in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after purchasing an additional 4,502,976 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

The company has a market capitalization of $1.36 trillion, a PE ratio of 272.61, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock’s 50 day simple moving average is $429.67 and its 200-day simple moving average is $361.33.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.