Tesla (NASDAQ:TSLA) Share Price Crosses Above Two Hundred Day Moving Average of $280.14

Tesla, Inc. (NASDAQ:TSLAGet Rating)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $280.14 and traded as high as $284.50. Tesla shares last traded at $275.33, with a volume of 63,283,781 shares traded.

Analyst Ratings Changes

TSLA has been the topic of several analyst reports. Argus reiterated a “buy” rating and set a $374.00 target price on shares of Tesla in a report on Friday, August 26th. Barclays lifted their price target on Tesla from $123.33 to $126.67 and gave the company an “underweight” rating in a report on Monday, July 18th. Robert W. Baird decreased their price target on Tesla from $369.33 to $316.33 in a research note on Thursday, July 21st. Wolfe Research raised Tesla from a “peer perform” rating to an “outperform” rating and set a $360.00 price objective for the company in a research report on Tuesday, September 6th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $333.33 target price on shares of Tesla in a report on Tuesday, July 19th. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $288.18.

Tesla Stock Performance

The company has a current ratio of 1.43, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $855.73 billion, a PE ratio of 99.52, a price-to-earnings-growth ratio of 2.69 and a beta of 2.18. The firm’s fifty day moving average price is $287.86 and its two-hundred day moving average price is $280.14.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The electric vehicle producer reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. The company had revenue of $16.93 billion during the quarter, compared to analysts’ expectations of $16.92 billion. Tesla had a net margin of 14.17% and a return on equity of 29.04%. Tesla’s revenue was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 3.58 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 3,500 shares of Tesla stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $791.50, for a total transaction of $2,770,250.00. Following the transaction, the senior vice president now directly owns 20,567 shares of the company’s stock, valued at $16,278,780.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other Tesla news, Director Kathleen Wilson-Thompson sold 17,500 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $863.78, for a total value of $15,116,150.00. Following the completion of the sale, the director now directly owns 1,800 shares of the company’s stock, valued at approximately $1,554,804. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $791.50, for a total value of $2,770,250.00. Following the completion of the transaction, the senior vice president now owns 20,567 shares in the company, valued at approximately $16,278,780.50. The disclosure for this sale can be found here. Insiders sold 73,750 shares of company stock worth $39,835,410 over the last 90 days. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Tesla by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 65,171,982 shares of the electric vehicle producer’s stock worth $70,229,327,000 after acquiring an additional 2,723,410 shares during the last quarter. State Street Corp boosted its holdings in Tesla by 4.0% in the fourth quarter. State Street Corp now owns 32,465,720 shares of the electric vehicle producer’s stock worth $34,309,124,000 after acquiring an additional 1,235,579 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tesla by 10.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 14,233,086 shares of the electric vehicle producer’s stock valued at $9,584,845,000 after purchasing an additional 1,317,687 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Tesla by 2.5% in the first quarter. Northern Trust Corp now owns 8,774,479 shares of the electric vehicle producer’s stock valued at $9,455,380,000 after purchasing an additional 216,282 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $7,918,804,000. 43.01% of the stock is currently owned by institutional investors and hedge funds.

Tesla Company Profile

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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.

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