Tesla (NASDAQ:TSLA) Shares Up 3.6% – Time to Buy?

by · The Cerbat Gem

Tesla, Inc. (NASDAQ:TSLA – Get Free Report)’s stock price rose 3.6% during trading on Monday . The stock traded as high as $481.77 and last traded at $475.31. Approximately 113,407,772 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 98,741,008 shares. The stock had previously closed at $458.96.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research reports. Mizuho set a $475.00 price target on shares of Tesla and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. HSBC restated a “reduce” rating on shares of Tesla in a report on Monday, November 17th. Benchmark reiterated a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group cut their target price on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $399.33.

Get Our Latest Report on Tesla

Tesla Trading Up 3.6%

The company has a 50 day moving average of $435.52 and a two-hundred day moving average of $376.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The stock has a market capitalization of $1.58 trillion, a PE ratio of 316.87, a P/E/G ratio of 15.50 and a beta of 1.87.

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

Insider Buying and Selling

In related news, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This represents a 3.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $443.93, for a total value 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 $6,107,145.01. This represents a 16.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 19.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Mirabella Financial Services LLP increased its stake in shares of Tesla by 108.8% in the third quarter. Mirabella Financial Services LLP now owns 8,786 shares of the electric vehicle producer’s stock worth $3,900,000 after acquiring an additional 4,578 shares during the period. CTC Alternative Strategies Ltd. boosted its holdings in Tesla by 36.3% in the third quarter. CTC Alternative Strategies Ltd. now owns 18,588 shares of the electric vehicle producer’s stock valued at $8,266,000 after purchasing an additional 4,949 shares during the last quarter. Painted Porch Advisors LLC grew its position in Tesla by 80.4% during the 3rd quarter. Painted Porch Advisors LLC now owns 956 shares of the electric vehicle producer’s stock worth $425,000 after purchasing an additional 426 shares during the period. MRP Capital Investments LLC raised its stake in shares of Tesla by 2.2% during the 3rd quarter. MRP Capital Investments LLC now owns 5,638 shares of the electric vehicle producer’s stock valued at $2,507,000 after buying an additional 120 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Tesla by 4.3% in the 3rd quarter. IFP Advisors Inc now owns 22,630 shares of the electric vehicle producer’s stock valued at $10,065,000 after buying an additional 926 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

(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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