Tesla (NASDAQ:TSLA) Shares Up 5.4%

Tesla, Inc. (NASDAQ:TSLA)’s stock price shot up 5.4% on Monday . The stock traded as high as $234.27 and last traded at $231.65. 48,610,518 shares were traded during trading, a decline of 52% from the average session volume of 100,770,039 shares. The stock had previously closed at $219.80.

Analyst Ratings Changes

A number of analysts have commented on TSLA shares. Truist Financial upped their price objective on shares of Tesla from $162.00 to $215.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Royal Bank of Canada cut their price objective on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Guggenheim reaffirmed a “sell” rating and set a $134.00 price objective on shares of Tesla in a research report on Tuesday, July 23rd. TD Cowen raised their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $204.30.

Tesla Stock Up 5.4 %

The firm has a 50 day moving average of $205.68 and a two-hundred day moving average of $190.62. The firm has a market capitalization of $740.17 billion, a price-to-earnings ratio of 59.09, a price-to-earnings-growth ratio of 5.69 and a beta of 2.31. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla 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 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 SEC, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on 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 transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 650 shares of the company’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 transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently bought and sold shares of the stock. Lam Group Inc. purchased a new stake in Tesla in the 4th quarter worth approximately $25,000. Bank & Trust Co bought a new position in Tesla during the 2nd quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla in the 4th quarter worth $37,000. Kessler Investment Group LLC increased its holdings in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares in the last quarter. Finally, Aspect Partners LLC increased its holdings in shares of Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after purchasing an additional 114 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.