Tesla (NASDAQ:TSLA) Shares Up 2.3% – Time to Buy?

Shares of Tesla, Inc. (NASDAQ:TSLA) were up 2.3% on Friday . The company traded as high as $431.60 and last traded at $427.80. Approximately 30,737,538 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 94,445,313 shares. The stock had previously closed at $418.10.

Analyst Ratings Changes

A number of analysts have recently issued reports on TSLA shares. Barclays boosted their target price 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. Guggenheim upped their target price on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. Bank of America lifted their price target on shares of Tesla from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. William Blair started coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Morgan Stanley upped their target price on Tesla from $310.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Nine investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $257.36.

Tesla Trading Up 4.3 %

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 stock has a 50-day simple moving average of $301.74 and a 200 day simple moving average of $247.00. The company has a market cap of $1.40 trillion, a price-to-earnings ratio of 119.52, a PEG ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. During the same period last year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 522,886 shares of company stock valued at $171,393,831 in the last ninety days. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

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