Tesla, Inc. (NASDAQ:TSLA – Get Free Report) was up 2.1% on Tuesday . The stock traded as high as $424.54 and last traded at $420.60. Approximately 42,711,511 shares were traded during trading, a decline of 27% from the average daily volume of 58,787,098 shares. The stock had previously closed at $411.84.
Key Stories Impacting Tesla
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla’s Q2 deliveries may come in above expectations, with stronger Europe and China demand lifting forecasts. Reuters article on copper to aluminum shift
- Positive Sentiment: The company started testing its Cybercab without pedals or a steering wheel, highlighting progress in Tesla’s autonomy and robotaxi strategy. TechCrunch Cybercab article
- Positive Sentiment: Full Self-Driving updates for older vehicles and renewed investor optimism around autonomy helped fuel the rally. MarketWatch self-driving update article
- Neutral Sentiment: Wall Street remains split on Tesla’s valuation, with some models implying only modest upside over the next year. 24/7 Wall St. price target article
- Negative Sentiment: Some analysts say Tesla’s robotaxi model could face profitability pressure if human safety drivers remain necessary. Benzinga robotaxi economics article
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on TSLA. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tesla in a research note on Monday, June 1st. The Goldman Sachs Group started coverage on shares of Tesla in a report on Friday, June 5th. They set a “buy” rating for the company. Glj Research reissued a “sell” rating on shares of Tesla in a research report on Friday, June 12th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, April 23rd. Finally, Phillip Securities lowered their target price on shares of Tesla from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Wednesday, May 13th. Twenty-one research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $403.07.
Tesla Trading Up 2.1%
The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 385.87, a PEG ratio of 15.18 and a beta of 1.80. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $406.07 and its two-hundred day simple moving average is $412.75.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 EPS. On average, equities analysts predict that Tesla, Inc. will post 1.19 EPS for the current year.
Insider Buying and Selling at Tesla
In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares of the company’s stock, valued at approximately $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction dated 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 sale, the director owned 48,399 shares in the company, valued at $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. Insiders sold 32,015 shares of company stock valued at $12,383,640 in the last 90 days. 19.90% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Tesla
Several large investors have recently modified their holdings of TSLA. Vanguard Group Inc. raised its position in Tesla by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after purchasing an additional 6,538,720 shares during the last quarter. State Street Corp grew its position in Tesla by 0.9% during the 4th quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer’s stock worth $51,647,164,000 after purchasing an additional 1,080,085 shares during the last quarter. Geode Capital Management LLC grew its position in Tesla by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock worth $29,426,070,000 after purchasing an additional 375,946 shares during the last quarter. Capital World Investors increased its stake in Tesla by 5.8% in the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock valued at $19,583,547,000 after purchasing an additional 2,403,019 shares during the period. Finally, Norges Bank purchased a new stake in shares of Tesla in the fourth quarter valued at about $17,128,100,000. 66.20% of the stock is owned by institutional investors and hedge funds.
About Tesla
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.
Featured Stories
- Five stocks we like better than Tesla
- NextEra’s Dominion Deal Could Put It at the Center of the AI Power Race
- Amazon Could Be About to Reap the Rewards of a Software Spending Boom
- Best Buy’s Turnaround Is Gaining Traction, But Wall Street Still Needs Proof
- AI Fears Hit Nebius Stock, But Has the Growth Thesis Changed?
Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.
