Tesla (NASDAQ:TSLA) Stock Price Up 4% – Here’s What Happened

by · The Cerbat Gem

Shares of Tesla, Inc. (NASDAQ:TSLA – Get Free Report) traded up 4% during mid-day trading on Friday . The company traded as high as $431.20 and last traded at $428.35. 64,563,425 shares were traded during mid-day trading, an increase of 3% from the average session volume of 62,743,473 shares. The stock had previously closed at $411.79.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

Analyst Ratings Changes

TSLA has been the topic of a number of recent analyst reports. Mizuho lowered their price target on Tesla from $540.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Stifel Nicolaus set a $508.00 target price on Tesla in a research note on Thursday, January 29th. Bank of America started coverage on Tesla in a report on Wednesday, March 4th. They set a “buy” rating and a $460.00 target price on the stock. HSBC assumed coverage on Tesla in a report on Monday, April 27th. They set a “buy” rating for the company. Finally, Morgan Stanley set a $415.00 price objective on shares of Tesla and gave the company an “equal weight” rating in a report on Thursday, January 29th. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $398.42.

Check Out Our Latest Stock Analysis on Tesla

Tesla Trading Up 4.0%

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. The business’s 50-day moving average is $382.66 and its 200 day moving average is $418.37. The firm has a market capitalization of $1.61 trillion, a P/E ratio of 392.98, a price-to-earnings-growth ratio of 16.31 and a beta of 1.79.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The firm had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 1.25 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,264 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $397.03, for a total transaction of $898,875.92. Following the sale, the chief financial officer owned 18,106 shares of the company’s stock, valued at $7,188,625.18. This represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 80,213 shares of company stock valued at $30,851,105. 19.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Tesla by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after acquiring an additional 6,538,720 shares during the period. State Street Corp increased its stake in Tesla by 0.9% in the fourth quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer’s stock valued at $51,647,164,000 after acquiring an additional 1,080,085 shares during the last quarter. Geode Capital Management LLC raised its position in Tesla by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock valued at $29,426,070,000 after purchasing an additional 375,946 shares in the last quarter. Capital World Investors lifted its stake in Tesla by 5.8% during the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock worth $19,583,547,000 after purchasing an additional 2,403,019 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Tesla in the 4th quarter valued at $17,128,100,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

(Get Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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