Tesla (NASDAQ:TSLA) Trading 0.1% Higher After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s stock price rose 0.1% during trading on Friday 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 $171.25 and last traded at $170.27. Approximately 43,083,689 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 102,489,289 shares. The stock had previously closed at $170.18.

A number of other analysts also recently commented on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday. UBS Group dropped their price objective on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday. Royal Bank of Canada cut their target price on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a report on Wednesday. KGI Securities restated a “neutral” rating and set a $213.00 price target (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Finally, Citigroup lifted their price objective on shares of Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $186.70.

Insider Transactions at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Pinnacle Associates Ltd. lifted its holdings in Tesla by 4.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 64,063 shares of the electric vehicle producer’s stock worth $11,262,000 after buying an additional 2,927 shares in the last quarter. Sterling Investment Counsel LLC raised its stake in shares of Tesla by 86.1% in the first quarter. Sterling Investment Counsel LLC now owns 4,608 shares of the electric vehicle producer’s stock valued at $810,000 after acquiring an additional 2,132 shares in the last quarter. BLB&B Advisors LLC boosted its holdings in Tesla by 54.2% in the first quarter. BLB&B Advisors LLC now owns 5,141 shares of the electric vehicle producer’s stock valued at $904,000 after purchasing an additional 1,808 shares during the period. MBA Advisors LLC acquired a new position in Tesla during the 1st quarter worth $336,000. Finally, Prestige Wealth Management Group LLC raised its position in Tesla by 14.5% in the 1st quarter. Prestige Wealth Management Group LLC now owns 8,238 shares of the electric vehicle producer’s stock valued at $1,448,000 after purchasing an additional 1,046 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 1.1 %

The firm has a 50 day moving average price of $175.04 and a 200-day moving average price of $208.00. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The firm has a market cap of $535.97 billion, a PE ratio of 42.93, a PEG ratio of 4.28 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. Research 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.