Tesla (NASDAQ:TSLA) Stock Price Up 1% – Still a Buy?

Tesla, Inc. (NASDAQ:TSLA) shares were up 1% during mid-day trading on Monday . The stock traded as high as $432.80 and last traded at $425.43. Approximately 28,216,913 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 95,115,641 shares. The stock had previously closed at $421.06.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Guggenheim raised their price target on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a report on Thursday, December 5th. William Blair started coverage on Tesla in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Truist Financial raised their price objective on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their target price on Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Wolfe Research initiated coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $272.06.

Tesla Stock Performance

The company has a market capitalization of $1.48 trillion, a P/E ratio of 126.65, a P/E/G ratio of 10.80 and a beta of 2.36. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average is $331.97 and its 200 day moving average is $260.84.

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

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction 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 completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 514,886 shares of company stock valued at $169,393,831. 20.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

A number of large investors have recently modified their holdings of TSLA. International Assets Investment Management LLC boosted its position in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares during the period. Clean Energy Transition LLP raised its holdings in Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.