Tesla (NASDAQ:TSLA) Shares Up 0.8% – Still a Buy?

Shares of Tesla, Inc. (NASDAQ:TSLA) traded up 0.8% during mid-day trading on Friday . The company traded as high as $254.00 and last traded at $251.85. 15,688,675 shares were traded during mid-day trading, a decline of 83% from the average session volume of 93,981,500 shares. The stock had previously closed at $249.85.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Piper Sandler increased their target price on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and increased their target price for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Wells Fargo & Company increased their target price on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Friday, July 5th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $219.45.

Tesla Stock Down 1.1 %

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 firm’s 50 day simple moving average is $233.56 and its two-hundred day simple moving average is $209.78. The firm has a market cap of $793.53 billion, a price-to-earnings ratio of 69.00, a PEG ratio of 8.49 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business 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 revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. On average, equities analysts forecast that Tesla, Inc. will post 1.96 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,297 shares of company stock worth $3,065,866. 20.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC acquired a new position in Tesla during the 3rd quarter worth approximately $6,037,000. Equitable Trust Co. boosted its stake in shares of Tesla by 78.7% in the 3rd quarter. Equitable Trust Co. now owns 8,950 shares of the electric vehicle producer’s stock valued at $2,342,000 after purchasing an additional 3,943 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc boosted its stake in shares of Tesla by 0.9% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 233,261 shares of the electric vehicle producer’s stock valued at $61,014,000 after purchasing an additional 2,163 shares during the last quarter. Source Financial Advisors LLC boosted its stake in shares of Tesla by 17.3% in the 3rd quarter. Source Financial Advisors LLC now owns 2,104 shares of the electric vehicle producer’s stock valued at $550,000 after purchasing an additional 310 shares during the last quarter. Finally, Hollencrest Capital Management boosted its stake in shares of Tesla by 0.7% in the 3rd quarter. Hollencrest Capital Management now owns 63,454 shares of the electric vehicle producer’s stock valued at $16,601,000 after purchasing an additional 433 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

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.