Tesla (NASDAQ:TSLA) Trading 1.7% Higher – Here’s What Happened

Shares of Tesla, Inc. (NASDAQ:TSLA) shot up 1.7% during trading on Thursday . The company traded as high as $454.63 and last traded at $454.53. 70,943,611 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 99,491,500 shares. The stock had previously closed at $446.74.

Analyst Ratings Changes

A number of research analysts recently commented on TSLA shares. Industrial Alliance Securities set a $300.00 target price on Tesla in a research note on Monday, October 13th. BNP Paribas Exane initiated coverage on Tesla in a research report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 target price for the company. Bank of America increased their price target on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. CICC Research boosted their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Finally, TD Cowen increased their target price on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $398.92.

Tesla Trading Up 1.7%

The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.51 trillion, a PE ratio of 303.02, a PEG ratio of 14.53 and a beta of 1.87. The stock has a 50 day moving average price of $434.02 and a 200 day moving average price of $371.05.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 82,606 shares of company stock worth $33,554,102 over the last three months. 19.90% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Several large investors have recently bought and sold shares of TSLA. Norges Bank purchased a new stake in Tesla in the 2nd quarter worth approximately $11,839,824,000. Goldman Sachs Group Inc. lifted its stake in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new position in Tesla during the first quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC raised its holdings in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after purchasing an additional 4,502,976 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.