Tesla (NASDAQ:TSLA) Trading Up 0.7% After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) saw its shares rise by 0.7% on Wednesday due to an upgrade from Phillip Securities, which changed its rating to a moderate sell. During the trading session, Tesla's stock reached a high of $262.80 before closing at $261.46. Approximately 22,988,190 shares were traded, which is a significant drop of 76% from the average daily volume of 94,327,055 shares. The stock had previously closed at $259.52.

Analyst Ratings and Price Targets

Other research firms have also provided their opinions on Tesla recently. Roth Mkm reasserted a "neutral" rating while setting a price target of $85.00 on Tesla shares. JPMorgan Chase & Co. raised their price target from $130.00 to $135.00, maintaining an "underweight" rating. New Street Research downgraded Tesla from a "buy" to a "neutral" rating with a target price set at $225.00. Oppenheimer confirmed a "market perform" rating on Tesla shares. Meanwhile, KGI Securities upgraded Tesla from "neutral" to "outperform" and established a price target of $276.00. Across the board, the ratings indicate a mix of skepticism and cautious optimism among analysts, with eight giving a sell rating, seventeen a hold rating, and fourteen a buy rating. The average rating stands at "Hold" with a target price of $219.45, according to data from MarketBeat.

Insider Transactions at Tesla

In other news related to Tesla, several insider transactions have occurred. On September 6th, Senior Vice President Xiaotong Zhu sold 297 shares at an average price of $221.77 for a total of $65,865.69. After this sale, Zhu retained ownership of 67,491 shares, valued at around $14,967,479.07, marking no change in their position percentage-wise. Additionally, Chief Financial Officer Vaibhav Taneja sold 4,000 shares on October 24th for an average of $250.00, amounting to $1,000,000.00. Following the sale, Taneja owns 105,032 shares valued at approximately $26,258,000, which also reflects no change in ownership percentage. Over the last quarter, company insiders sold a total of 12,297 shares, worth $3,065,866. Currently, corporate insiders hold 20.70% of Tesla's stock.

Institutional Investors and Changes in Holdings

Recent transactions by institutional investors show changes in positions with Tesla shares. Westside Investment Management Inc. increased its stake by 26.9%, acquiring an additional 732 shares. Madrona Financial Services LLC substantially raised its holdings by 478.6%, bringing its total to 18,127 shares after buying 14,994 shares. Fluent Financial LLC also entered a new stake valued at $750,000 during this quarter. Cornerstone Wealth Management LLC increased its position by 3.2%. Similarly, First Trust Direct Indexing L.P. raised its holdings by 4.4%. Like many other companies in the sector, Tesla’s stock remains popular among institutional investors, with a collective ownership of 66.20% among them.

Tesla's Financial Overview

Looking at Tesla's financials, the company has a current ratio of 1.84, a quick ratio of 1.37, and a debt-to-equity ratio of 0.08. As of now, Tesla boasts a market capitalization of $840.68 billion, a P/E ratio of 71.63, a price-to-earnings-growth ratio of 7.59, and a beta of 2.29. The 50-day moving average for Tesla stock is $232.09, while the 200-day moving average stands at $209.16.

Tesla's last earnings report was announced on October 23rd, where the company revealed earnings per share (EPS) of $0.72, exceeding analysts’ expectations of $0.58 by $0.14. The net margin reported was 13.07%, and the return on equity was 10.24%. Tesla's revenue for the quarter hit $25.18 billion, slightly below the anticipated $25.47 billion. In comparison to the prior year, Tesla's quarterly revenue rose by 7.8%, with the same quarter last year producing an EPS of $0.53. For the current fiscal year, analysts predict Tesla will achieve 1.75 earnings per share.

About Tesla, Inc.

Tesla, Inc. is a leading company engaged in the design, development, manufacturing, leasing, and sale of electric vehicles, as well as energy generation and storage systems. They operate primarily in the United States, China, and globally. Tesla has two main segments: Automotive and Energy Generation and Storage, where they offer electric vehicles and related services.

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