Tesla (NASDAQ:TSLA) Announces Earnings Results

Tesla (NASDAQ:TSLA) issued its earnings results on Wednesday. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08), Zacks reports. Tesla had a return on equity of 10.54% and a net margin of 7.26%.

Tesla Trading Up 2.9 %

Shares of NASDAQ:TSLA opened at $400.28 on Friday. Tesla has a 52 week low of $138.80 and a 52 week high of $488.54. The company’s 50 day moving average is $401.98 and its two-hundred day moving average is $297.28. The company has a market cap of $1.28 trillion, a PE ratio of 196.22, a P/E/G ratio of 8.08 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Wall Street Analyst Weigh In

Several analysts have issued reports on TSLA shares. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a report on Monday, January 6th. Stifel Nicolaus lifted their target price on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Barclays increased their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Truist Financial lifted their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $318.31.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % 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. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 553,386 shares of company stock valued at $196,305,796. Insiders own 20.70% 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.