Tesla (NASDAQ:TSLA) Trading 2.5% Higher

Tesla, Inc. (NASDAQ:TSLA) shares were up 2.5% during trading on Wednesday . The stock traded as high as $194.19 and last traded at $191.97. Approximately 32,489,035 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 94,996,711 shares. The stock had previously closed at $187.35.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Tesla in a research report on Friday, June 14th. Mizuho lowered their target price on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Barclays reduced their price target on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. New Street Research restated a “buy” rating and set a $235.00 price objective on shares of Tesla in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $187.30.

Tesla Stock Performance

The company has a market capitalization of $621.64 billion, a P/E ratio of 48.97, a P/E/G ratio of 4.65 and a beta of 2.32. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average is $175.02 and its 200 day moving average is $192.25.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. As a group, equities analysts anticipate that Tesla, Inc. will post 1.87 earnings per share for the current year.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 104,855 shares of company stock worth $19,285,643 over the last ninety days. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wyrmwood Management LLC bought a new stake in shares of Tesla during the 4th quarter worth $25,000. Lam Group Inc. bought a new stake in Tesla during the fourth quarter worth about $25,000. Mendota Financial Group LLC increased its position in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla during the 4th quarter valued at about $37,000. Finally, Kathleen S. Wright Associates Inc. lifted its position in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.