Tesla (NASDAQ:TSLA) Trading 3.5% Higher – What’s Next?

Tesla, Inc. (NASDAQ:TSLA) traded up 3.5% during trading on Tuesday . The company traded as high as $236.29 and last traded at $230.01. 75,967,351 shares traded hands during trading, a decline of 10% from the average session volume of 84,457,797 shares. The stock had previously closed at $222.15.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TSLA. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Morgan Stanley reiterated a “top pick” rating and set a $430.00 target price on shares of Tesla in a research report on Monday, March 3rd. Guggenheim dropped their price target on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $404.00 price objective on shares of Tesla in a research note on Tuesday. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $325.81.

Tesla Price Performance

The firm has a fifty day moving average of $357.29 and a two-hundred day moving average of $319.03. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $774.15 billion, a PE ratio of 117.98, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Several large investors have recently bought and sold shares of the company. Swedbank AB raised its stake in Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the last quarter. United Bank bought a new position in shares of Tesla in the third quarter worth approximately $287,000. Ashton Thomas Private Wealth LLC grew its holdings in shares of Tesla by 9.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 4,980 shares of the electric vehicle producer’s stock valued at $1,303,000 after buying an additional 423 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Tesla during the third quarter valued at approximately $610,000. 66.20% of the stock is owned by 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.