Tesla (NASDAQ:TSLA) Trading 0.2% Higher

Tesla, Inc. (NASDAQ:TSLA)’s share price traded up 0.2% during trading on Thursday . The company traded as high as $198.72 and last traded at $196.82. 31,257,805 shares traded hands during trading, a decline of 67% from the average session volume of 94,992,719 shares. The stock had previously closed at $196.37.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Guggenheim reaffirmed a “sell” rating and set a $126.00 price target on shares of Tesla in a research note on Tuesday. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a research note on Monday, April 22nd. New Street Research restated a “buy” rating and set a $235.00 target price on shares of Tesla in a research report on Tuesday. Finally, Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research report on Wednesday, April 24th. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $187.30.

Tesla Stock Performance

The business has a 50-day moving average price of $175.83 and a 200-day moving average price of $192.28. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $626.01 billion, a price-to-earnings ratio of 49.70, a P/E/G ratio of 4.65 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.87 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Tesla

A number of hedge funds have recently added to or reduced their stakes in the company. Wyrmwood Management LLC acquired a new stake in shares of Tesla in the 4th quarter worth $25,000. Lam Group Inc. acquired a new position in Tesla in the 4th quarter valued at about $25,000. Mendota Financial Group LLC grew its stake in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla during the 4th quarter worth approximately $37,000. Finally, Kathleen S. Wright Associates Inc. raised its position in shares of Tesla by 111.1% during 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 period. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.