Tesla (NASDAQ:TSLA) Trading 2.5% Higher – Here’s What Happened

Tesla, Inc. (NASDAQ:TSLA) shares rose 2.5% during trading on Friday . The company traded as high as $243.93 and last traded at $242.19. Approximately 45,642,749 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 90,819,679 shares. The stock had previously closed at $236.26.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Robert W. Baird decreased their price target on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Wells Fargo & Company decreased their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Guggenheim decreased their price target on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday, March 12th. Finally, Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research note on Tuesday. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $318.93.

Tesla Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market cap of $799.98 billion, a price-to-earnings ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50. The stock’s 50-day moving average is $335.19 and its 200 day moving average is $320.44.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. M1 Capital Management LLC purchased a new position in shares of Tesla during the 4th quarter worth approximately $863,000. Chancellor Financial Group WB LP purchased a new position in shares of Tesla during the 4th quarter worth approximately $577,000. 111 Capital purchased a new position in shares of Tesla during the 4th quarter worth approximately $8,977,000. Thoma Capital Management LLC purchased a new position in shares of Tesla during the 4th quarter worth approximately $1,130,000. Finally, NorthCrest Asset Manangement LLC increased its stake in shares of Tesla by 36.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 11,989 shares of the electric vehicle producer’s stock worth $4,842,000 after purchasing an additional 3,224 shares in 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.