Tesla (NASDAQ:TSLA) Stock Price Up 3.2% – Still a Buy?

Tesla, Inc. (NASDAQ:TSLA) shot up 3.2% during trading on Tuesday . The company traded as high as $483.99 and last traded at $477.65. 54,699,760 shares were traded during trading, a decline of 42% from the average session volume of 94,589,727 shares. The stock had previously closed at $463.02.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TSLA shares. Wedbush reiterated an “outperform” rating and issued a $400.00 target price on shares of Tesla in a research note on Monday, November 18th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Guggenheim raised their target price on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research report on Thursday, December 5th. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Finally, Piper Sandler boosted their price objective on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $272.06.

Tesla Trading Down 0.9 %

The company has a 50 day moving average of $314.87 and a 200-day moving average of $252.94. The stock has a market cap of $1.40 trillion, a price-to-earnings ratio of 119.50, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

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

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s 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 owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 522,886 shares of company stock worth $171,393,831. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors have recently bought and sold shares of the business. Transcendent Capital Group LLC acquired a new position in Tesla in the third quarter valued at approximately $29,000. Clean Yield Group boosted 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 valued at $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC grew its position in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in Tesla during the 2nd quarter worth $26,000. Finally, Peterson Financial Group Inc. purchased a new stake in Tesla in the third quarter valued at $35,000. 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.