Tesla (NASDAQ:TSLA) Trading Up 0.8%

Tesla, Inc. (NASDAQ:TSLA)’s stock price was up 0.8% during mid-day trading on Monday . The company traded as high as $187.56 and last traded at $182.63. Approximately 39,026,619 shares traded hands during trading, a decline of 62% from the average daily volume of 103,885,867 shares. The stock had previously closed at $181.19.

Wall Street Analyst Weigh In

A number of research firms have commented on TSLA. JPMorgan Chase & Co. decreased their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Wednesday, April 24th. Cantor Fitzgerald initiated coverage on Tesla in a research note on Thursday, May 2nd. They set an “overweight” rating and a $230.00 price target on the stock. Sanford C. Bernstein dropped their price objective on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, March 26th. Finally, KGI Securities reissued a “neutral” rating and set a $213.00 target price (down previously from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $185.90.

Tesla Price Performance

The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $557.22 billion, a price-to-earnings ratio of 44.57, a price-to-earnings-growth ratio of 4.74 and a beta of 2.41. The company’s 50 day moving average is $173.12 and its 200 day moving average is $204.32.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. Insiders have sold 302,803 shares of company stock worth $56,124,840 in the last quarter. 20.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mount Vernon Associates Inc. MD increased its holdings in Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares in the last quarter. Oak Ridge Investments LLC increased its stake in shares of Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after buying an additional 1,405 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after purchasing an additional 25,943 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in shares of Tesla by 16.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after purchasing an additional 81,729 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.