Tesla (NASDAQ:TSLA) Trading 2.3% Higher

Shares of Tesla, Inc. (NASDAQ:TSLA) traded up 2.3% during mid-day trading on Tuesday . The stock traded as high as $234.57 and last traded at $231.99. 30,566,333 shares were traded during mid-day trading, a decline of 68% from the average session volume of 96,187,539 shares. The stock had previously closed at $226.78.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSLA. TD Cowen boosted their price target on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Roth Mkm reiterated a “neutral” rating and set a $85.00 price target on shares of Tesla in a report on Wednesday, July 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. William Blair assumed coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Finally, New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $209.60.

Tesla Stock Performance

The firm has a market capitalization of $725.16 billion, a price-to-earnings ratio of 59.18, a PEG ratio of 6.08 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $222.85 and its two-hundred day moving average price is $194.75.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Atalanta Sosnoff Capital LLC increased its stake in Tesla by 3.7% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after purchasing an additional 6,575 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after acquiring an additional 1,943 shares during the period. Entropy Technologies LP acquired a new stake in shares of Tesla in the first quarter worth approximately $1,941,000. Future Financial Wealth Managment LLC purchased a new stake in Tesla in the first quarter valued at approximately $79,000. Finally, Public Employees Retirement System of Ohio increased its position in Tesla by 0.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock worth $351,166,000 after purchasing an additional 6,034 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.