Tesla (NASDAQ:TSLA) Trading 0.6% Higher – What’s Next?

Tesla, Inc. (NASDAQ:TSLA) traded up 0.6% during mid-day trading on Wednesday . The stock traded as high as $402.50 and last traded at $396.72. 27,511,410 shares were traded during mid-day trading, a decline of 65% from the average session volume of 78,426,039 shares. The stock had previously closed at $394.36.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Morgan Stanley lifted their target price on shares of Tesla from $310.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $295.69.

Tesla Trading Up 0.4 %

The company has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.47, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The company’s 50 day moving average price is $368.03 and its 200 day moving average price is $277.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,903,716. This represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 514,886 shares of company stock valued at $169,393,831. 20.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

Several large investors have recently modified their holdings of the stock. World Investment Advisors LLC lifted its position in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management lifted its holdings in Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd boosted its stake in Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the period. MML Investors Services LLC grew its holdings in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after buying an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after acquiring an additional 1,741 shares during the period. 66.20% of the stock is owned by institutional investors.

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.