Tesla (NASDAQ:TSLA) Shares Up 5% – Here’s Why

Shares of Tesla, Inc. (NASDAQ:TSLA) were up 5% on Tuesday . The company traded as high as $357.61 and last traded at $356.43. Approximately 41,339,129 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 97,290,545 shares. The stock had previously closed at $339.34.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TSLA shares. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Tuesday, April 22nd. HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. UBS Group cut their target price on Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Finally, Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $293.97.

Tesla Stock Performance

The stock has a market capitalization of $1.17 trillion, a PE ratio of 178.15, a PEG ratio of 5.86 and a beta of 2.43. The company’s 50-day moving average price is $279.40 and its 200 day moving average price is $333.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the business posted $0.45 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,623 shares of company stock valued at $116,650,831. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Tesla in the fourth quarter worth $56,600,000. Stephens Consulting LLC increased its stake in Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after buying an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. grew its position in shares of Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. purchased a new stake in shares of Tesla during the fourth quarter worth about $8,158,000. Finally, Vontobel Holding Ltd. grew its position in shares of Tesla by 23.0% during the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after purchasing an additional 60,342 shares in the last quarter. 66.20% of the stock is currently 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.