Tesla, Inc. (NASDAQ:TSLA â Get Free Report) shares rose 6.5% on Thursday after TD Cowen raised their price target on the stock from $160.00 to $180.00. TD Cowen currently has a hold rating on the stock. Tesla traded as high as $248.35 and last traded at $246.39. Approximately 166,561,471 shares were traded during mid-day trading, an increase of 106% from the average daily volume of 80,957,576 shares. The stock had previously closed at $231.26.
Several other research analysts also recently weighed in on the company. Piper Sandler reiterated an âoverweightâ rating and issued a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. Cantor Fitzgerald reiterated an âoverweightâ rating and issued a $230.00 price target on shares of Tesla in a report on Monday. Wedbush boosted their price target on Tesla from $275.00 to $300.00 and gave the company an âoutperformâ rating in a report on Wednesday. Citigroup reissued a âneutralâ rating on shares of Tesla in a research note on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $123.00 to $136.00 and gave the company a âholdâ rating in a research note on Thursday, April 25th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of âHoldâ and an average target price of $189.47.
Check Out Our Latest Stock Report on Tesla
Insiders Place Their Bets
In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the businessâs stock in a transaction on 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 owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the companyâs 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 sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the companyâs stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Tesla
Institutional investors have recently modified their holdings of the stock. Hudson Valley Investment Advisors Inc. ADV raised its stake in Tesla by 9.6% during the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 3,841 shares of the electric vehicle producerâs stock worth $760,000 after acquiring an additional 337 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Tesla by 35.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 49,567 shares of the electric vehicle producerâs stock worth $9,808,000 after acquiring an additional 13,081 shares during the period. First Hawaiian Bank raised its stake in Tesla by 2.0% during the second quarter. First Hawaiian Bank now owns 7,296 shares of the electric vehicle producerâs stock worth $1,444,000 after acquiring an additional 144 shares during the period. GAMMA Investing LLC raised its stake in Tesla by 48.3% during the second quarter. GAMMA Investing LLC now owns 14,682 shares of the electric vehicle producerâs stock worth $2,905,000 after acquiring an additional 4,781 shares during the period. Finally, Transcend Capital Advisors LLC raised its stake in Tesla by 3.9% during the second quarter. Transcend Capital Advisors LLC now owns 14,638 shares of the electric vehicle producerâs stock worth $2,897,000 after acquiring an additional 546 shares during the period. Institutional investors and hedge funds own 66.20% of the companyâs stock.
Tesla Trading Up 6.5 %
The stock 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 firmâs 50 day moving average is $182.57 and its two-hundred day moving average is $191.32. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.
Tesla (NASDAQ:TSLA â Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Equities analysts anticipate that Tesla, Inc. will post 1.86 EPS 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.
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