Tesla (NASDAQ:TSLA) Hits New 12-Month High – What’s Next?

Tesla, Inc. (NASDAQ:TSLA) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $473.85 and last traded at $473.85, with a volume of 5531798 shares. The stock had previously closed at $463.02.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research reports. Truist Financial increased their target price on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Stifel Nicolaus upped their price target on Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Barclays upped their price target on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. upped their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $266.00.

Tesla Stock Up 2.2 %

The business has a 50-day simple moving average of $306.18 and a two-hundred day simple moving average of $249.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 126.85, a PEG ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. As a group, equities analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity

In related news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 522,886 shares of company stock valued at $171,393,831 in the last three months. 20.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Hedge funds have recently bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new position in Tesla in the 2nd quarter valued at approximately $26,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Tesla during the third quarter worth $29,000. Clean Yield Group increased its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in Tesla during the third quarter worth $35,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.