Tesla (NASDAQ:TSLA) Trading Up 0.6% – Should You Buy?

Tesla, Inc. (NASDAQ:TSLA) shares rose 0.6% on Wednesday . The company traded as high as $354.45 and last traded at $353.60. Approximately 16,212,677 shares were traded during trading, a decline of 83% from the average daily volume of 94,648,008 shares. The stock had previously closed at $351.42.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $380.00 in a research report on Monday. Jefferies Financial Group boosted their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada increased their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Nine investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $245.84.

Tesla Stock Up 3.2 %

The stock has a 50-day moving average price of $282.96 and a 200-day moving average price of $236.89. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.19 trillion, a P/E ratio of 101.23, a P/E/G ratio of 11.41 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business earned $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction 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 represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 420,280 shares of company stock worth $135,164,640. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in TSLA. Valley Wealth Managers Inc. bought a new position in Tesla in the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter worth approximately $29,000. Clean Yield Group lifted its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in Tesla in the 3rd quarter valued at $35,000. Institutional investors own 66.20% 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.