Shares of Tesla, Inc. (NASDAQ:TSLA – Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $209.86, but opened at $218.89. Tesla shares last traded at $220.88, with a volume of 21,318,918 shares.
Analysts Set New Price Targets
TSLA has been the subject of a number of recent analyst reports. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Wednesday, April 24th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 price target on shares of Tesla in a research note on Monday. Citigroup reaffirmed a “neutral” rating on shares of Tesla in a research note on Wednesday, June 12th. Guggenheim boosted their price objective on shares of Tesla from $126.00 to $134.00 and gave the company a “sell” rating in a research report on Wednesday. Finally, Wedbush boosted their price objective on shares of Tesla from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday. Seven research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $189.47.
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Tesla Price Performance
The stock’s 50 day simple moving average is $180.89 and its 200-day simple moving average is $190.93. The firm has a market cap of $785.79 billion, a price-to-earnings ratio of 62.85, a price-to-earnings-growth ratio of 5.74 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Equities research analysts anticipate that Tesla, Inc. will post 1.86 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Tesla
A number of hedge funds have recently modified their holdings of TSLA. Wyrmwood Management LLC acquired a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Mendota Financial Group LLC raised its position in shares of Tesla by 202.2% in the fourth 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 last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla in the fourth quarter valued at about $37,000. Finally, Kathleen S. Wright Associates Inc. increased its position in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.
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.
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