Tesla (NASDAQ:TSLA) Shares Up 11.9% After Analyst Upgrade

Shares of Tesla, Inc. (NASDAQ:TSLA) traded up 11.9% during trading on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $123.00 to $136.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Tesla traded as high as $167.97 and last traded at $161.83. 89,534,047 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 101,746,445 shares. The stock had previously closed at $144.68.

A number of other equities analysts also recently commented on TSLA. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday. Sanford C. Bernstein cut their target price on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 26th. Truist Financial cut their target price on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday. Citigroup raised their target price on shares of Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Wednesday. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $186.70.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated 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 of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated 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 of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. In the last three months, insiders sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. Norges Bank acquired a new stake in shares of Tesla in the 4th quarter worth approximately $7,844,757,000. Morgan Stanley lifted its stake in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares during the period. FMR LLC lifted its stake in shares of Tesla by 0.9% in the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after acquiring an additional 269,182 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after acquiring an additional 909,170 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 5.0 %

The business’s 50 day moving average price is $175.67 and its two-hundred day moving average price is $208.64. The company has a market capitalization of $541.99 billion, a price-to-earnings ratio of 43.41, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 13.68% and a net margin of 14.37%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 earnings per share. Equities analysts forecast that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

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.