Tesla (NASDAQ:TSLA) Trading 2.5% Higher

Tesla, Inc. (NASDAQ:TSLA)’s share price traded up 2.5% during trading on Wednesday . The stock traded as high as $194.19 and last traded at $191.97. 32,489,035 shares traded hands during trading, a decline of 66% from the average session volume of 94,996,711 shares. The stock had previously closed at $187.35.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their price target on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Wells Fargo & Company decreased their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Wednesday, April 24th. Guggenheim reiterated a “sell” rating and issued a $126.00 price target on shares of Tesla in a research report on Tuesday. Finally, Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Wednesday, April 17th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $187.30.

Tesla Stock Up 4.0 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The business has a 50 day simple moving average of $175.02 and a 200 day simple moving average of $192.25. The stock has a market cap of $621.64 billion, a PE ratio of 48.97, a P/E/G ratio of 4.65 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, equities research analysts forecast that Tesla, Inc. will post 1.87 EPS for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,855 shares of company stock worth $19,285,643. 25.10% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wyrmwood Management LLC acquired a new position in Tesla during the 4th quarter worth $25,000. Lam Group Inc. bought a new position in shares of Tesla in the fourth quarter worth about $25,000. Mendota Financial Group LLC lifted its position in shares of Tesla by 202.2% during 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 last quarter. OLD Point Trust & Financial Services N A bought a new stake in Tesla during the 4th quarter valued at approximately $37,000. Finally, Kathleen S. Wright Associates Inc. grew its holdings in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.