Tesla (NASDAQ:TSLA) Stock Price Up 5.1% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA) rose 5.1% during mid-day trading on Thursday . The stock traded as high as $358.69 and last traded at $353.76. Approximately 35,118,949 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 75,866,516 shares. The stock had previously closed at $336.51.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. Barclays increased their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Morgan Stanley raised their target price on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Evercore ISI raised their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Finally, Stifel Nicolaus dropped their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $326.50.

Tesla Trading Down 0.0 %

The firm has a fifty day simple moving average of $406.31 and a two-hundred day simple moving average of $307.64. The stock has a market cap of $1.14 trillion, a PE ratio of 174.43, a PEG ratio of 6.22 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after buying an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after buying an additional 1,655,203 shares during the period. Norges Bank purchased a new stake in shares of Tesla in the fourth quarter worth approximately $14,420,248,000. FMR LLC raised its holdings in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company’s stock.

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.