Tesla (NASDAQ:TSLA) Stock Price Up 4.3% After Analyst Upgrade

Shares of Tesla, Inc. (NASDAQ:TSLA) were up 4.3% during mid-day trading on Monday after New Street Research raised their price target on the stock from $465.00 to $520.00. New Street Research currently has a buy rating on the stock. Tesla traded as high as $460.16 and last traded at $452.42. Approximately 104,992,542 shares changed hands during trading, an increase of 3% from the average daily volume of 101,742,742 shares. The stock had previously closed at $433.72.

TSLA has been the topic of several other research reports. Mizuho lifted their target price on Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. 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 report on Monday, September 22nd. Evercore ISI cut their price target on shares of Tesla from $300.00 to $235.00 in a report on Friday. Barclays restated a “negative” rating and set a $350.00 price target (up from $275.00) on shares of Tesla in a report on Thursday, October 16th. Finally, CICC Research boosted their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have issued a Hold rating and eleven have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $381.00.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TSLA. Chapman Financial Group LLC purchased a new stake in Tesla during the second quarter valued at about $26,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the 1st quarter valued at approximately $27,000. Chelsea Counsel Co. lifted its stake in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Centennial Bank AR lifted its stake in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Tesla during the second quarter worth $29,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 4.3%

The stock has a market cap of $1.50 trillion, a PE ratio of 301.61, a P/E/G ratio of 15.45 and a beta of 2.08. The firm has a 50-day simple moving average of $400.41 and a 200-day simple moving average of $342.47. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

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

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.