Tesla (NASDAQ:TSLA) Trading 3.7% Higher – What’s Next?

Tesla, Inc. (NASDAQ:TSLA) traded up 3.7% on Friday . The stock traded as high as $458.00 and last traded at $456.56. 82,418,072 shares were traded during trading, a decline of 19% from the average session volume of 101,244,148 shares. The stock had previously closed at $440.10.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research report on Wednesday. New Street Research lifted their price objective on shares of Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. HSBC lifted their price objective on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Finally, Piper Sandler lifted their price objective on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $390.27.

Tesla Stock Performance

The firm’s fifty day moving average price is $410.52 and its 200 day moving average price is $348.12. 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 firm has a market capitalization of $1.52 trillion, a PE ratio of 304.37, a PEG ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of large investors have recently bought and sold shares of the business. Relyea Zuckerberg Hanson LLC lifted its position in Tesla by 0.4% during the 3rd quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock worth $2,916,000 after acquiring an additional 23 shares during the last quarter. Equita Financial Network Inc. lifted its position in Tesla by 2.8% during the 3rd quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock worth $380,000 after acquiring an additional 23 shares during the last quarter. VanderPol Investments L.L.C. lifted its position in Tesla by 2.2% during the 3rd quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock worth $464,000 after acquiring an additional 23 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in Tesla by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock worth $3,814,000 after acquiring an additional 23 shares during the last quarter. Finally, Pinnacle Bancorp Inc. lifted its position in Tesla by 4.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 609 shares of the electric vehicle producer’s stock worth $271,000 after acquiring an additional 24 shares during the last quarter. 66.20% of the stock is currently owned by 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.