Tesla (NASDAQ:TSLA) Shares Gap Up on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) gapped up before the market opened on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $123.00 to $136.00. The stock had previously closed at $144.68, but opened at $162.84. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Tesla shares last traded at $166.94, with a volume of 59,321,370 shares changing hands.

Several other analysts have also recently issued reports on the company. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Wednesday. Truist Financial dropped their target price on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday. KGI Securities reissued a “neutral” rating and issued a $213.00 price objective (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Wednesday, April 17th. Finally, Guggenheim reissued a “sell” rating and issued a $122.00 price objective on shares of Tesla in a research report on Tuesday. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $186.70.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 in the last quarter. 25.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

A number of large investors have recently bought and sold shares of TSLA. Wyrmwood Management LLC acquired a new position in Tesla in the 4th quarter worth about $25,000. Lam Group Inc. acquired a new position in Tesla in the 4th quarter worth about $25,000. Mendota Financial Group LLC raised its holdings in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV raised its holdings in Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 69 shares during the period. Finally, OLD Point Trust & Financial Services N A acquired a new position in Tesla in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 5.0 %

The business has a fifty day simple moving average of $175.67 and a 200 day simple moving average of $208.64. The firm has a market cap of $541.99 billion, a price-to-earnings ratio of 43.41, a PEG ratio of 4.28 and a beta of 2.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same period in the previous year, the company earned $1.07 EPS. Tesla’s revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 1.97 EPS 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.