Tesla (NASDAQ:TSLA) Sets New 52-Week High Following Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) shares reached a new 52-week high on Tuesday after Mizuho raised their price target on the stock from $475.00 to $530.00. Mizuho currently has an outperform rating on the stock. Tesla traded as high as $491.50 and last traded at $489.88, with a volume of 103885764 shares. The stock had previously closed at $475.31.

TSLA has been the subject of a number of other reports. Cantor Fitzgerald set a $510.00 target price on shares of Tesla and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. BNP Paribas lifted their target price on Tesla from $307.00 to $313.00 in a report on Monday, December 1st. CICC Research boosted their target price on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Finally, The Goldman Sachs Group decreased their price target on Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $400.86.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. This trade represents a 16.09% decrease in their position. The disclosure for this sale is available in the SEC filing. 19.90% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

A number of large investors have recently bought and sold shares of TSLA. Brighton Jones LLC increased its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares in the last quarter. Bison Wealth LLC grew its position in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares during the last quarter. Northwest & Ethical Investments L.P. increased its holdings in Tesla by 518.2% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 1,700 shares of the electric vehicle producer’s stock valued at $440,000 after purchasing an additional 1,425 shares in the last quarter. Finally, EntryPoint Capital LLC raised its position in Tesla by 79.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,301 shares of the electric vehicle producer’s stock valued at $337,000 after purchasing an additional 575 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 4.6%

The company has a market cap of $1.55 trillion, a price-to-earnings ratio of 311.51, a price-to-earnings-growth ratio of 12.24 and a beta of 1.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The business has a 50 day simple moving average of $437.67 and a 200 day simple moving average of $378.86.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 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.