Tesla (NASDAQ:TSLA) Stock Price Up 3.2% – Time to Buy?

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TSLA shares. Jefferies Financial Group boosted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Barclays lifted their target price on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Wedbush restated an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research note on Monday, November 18th. Finally, Cantor Fitzgerald boosted their price objective on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $266.00.

Tesla Stock Up 2.9 %

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 firm has a market cap of $1.53 trillion, a PE ratio of 130.86, a P/E/G ratio of 10.80 and a beta of 2.36. The business has a fifty day moving average price of $306.18 and a two-hundred day moving average price of $249.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 522,886 shares of company stock valued at $171,393,831 over the last quarter. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares in the last quarter. FMR LLC grew its stake in shares of Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tesla by 13.7% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after buying an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. 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.