Tesla (NASDAQ:TSLA) Trading 1.5% Higher – Still a Buy?

by · The Cerbat Gem

Tesla, Inc. (NASDAQ:TSLA – Get Free Report)’s share price traded up 1.5% during mid-day trading on Wednesday . The stock traded as high as $456.88 and last traded at $451.9110. 62,671,919 shares changed hands during trading, a decline of 37% from the average session volume of 98,846,891 shares. The stock had previously closed at $445.17.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TSLA shares. Truist Financial upped their target price on shares of Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Canaccord Genuity Group reduced their price objective on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Dbs Bank upgraded Tesla to a “hold” rating in a research note on Wednesday, November 5th. Roth Capital set a $505.00 target price on Tesla and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $320.00 to $548.00 in a research report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $399.33.

View Our Latest Research Report on Tesla

Tesla Trading Up 1.5%

The company has a market cap of $1.50 trillion, a price-to-earnings ratio of 301.27, a P/E/G ratio of 14.85 and a beta of 1.87. The business has a fifty day simple moving average of $434.87 and a 200 day simple moving average of $374.32. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter last year, the firm posted $0.72 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 82,637 shares of company stock valued at $33,806,443. Insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently bought and sold shares of the stock. Siren L.L.C. acquired a new position in shares of Tesla during the 1st quarter worth $2,332,000. Zuckerman Investment Group LLC boosted its holdings in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares in the last quarter. Norges Bank acquired a new position in Tesla during the second quarter worth $11,839,824,000. Police & Firemen s Retirement System of New Jersey raised its holdings in Tesla by 5.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock valued at $135,688,000 after buying an additional 22,607 shares in the last quarter. Finally, Keystone Global Partners LLC acquired a new stake in shares of Tesla in the first quarter worth about $594,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

(Get Free Report)

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.

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