Tesla (NASDAQ:TSLA) Reaches New 1-Year High on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s share price hit a new 52-week high during trading on Monday after UBS Group raised their price target on the stock from $197.00 to $226.00. UBS Group currently has a sell rating on the stock. Tesla traded as high as $361.93 and last traded at $349.77, with a volume of 19615025 shares traded. The stock had previously closed at $352.56.

Several other research analysts have also recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. Canaccord Genuity Group lifted their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price objective on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $231.06.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Institutional investors have recently added to or reduced their stakes in the stock. Bank & Trust Co purchased a new stake in shares of Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla during the second quarter worth $26,000. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter valued at $29,000. Finally, Clean Yield Group raised its stake in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm’s 50-day moving average is $268.52 and its 200 day moving average is $229.16. The firm has a market capitalization of $1.09 trillion, a PE ratio of 92.67, a price-to-earnings-growth ratio of 11.45 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the business earned $0.53 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.