Tesla (NASDAQ:TSLA) Stock Price Up 2% on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) shot up 2% during trading on Thursday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $123.00 to $136.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Tesla traded as high as $166.38 and last traded at $165.39. 45,566,008 shares were traded during trading, a decline of 55% from the average session volume of 102,183,336 shares. The stock had previously closed at $162.13.

Other equities research analysts have also issued reports about the company. Roth Mkm reiterated a “neutral” rating and set a $85.00 price target on shares of Tesla in a report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $205.00 price target on shares of Tesla in a report on Monday. Canaccord Genuity Group reduced their price target on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday. Truist Financial reduced their price target on Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday. Finally, China Renaissance began coverage on Tesla in a report on Monday, February 26th. They set a “hold” rating for the company. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $186.70.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 in the last three months. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. Vanguard Group Inc. boosted its stake in Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. Norges Bank acquired a new stake in Tesla in the 4th quarter valued at $7,844,757,000. Morgan Stanley boosted its stake in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares in the last quarter. FMR LLC boosted its stake in Tesla by 0.9% in the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after buying an additional 269,182 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after buying an additional 909,170 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 5.0 %

The company has a 50 day moving average of $175.67 and a 200 day moving average of $208.64. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The firm has a market cap of $541.99 billion, a price-to-earnings ratio of 43.41, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.68%. Tesla’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current 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.