Tesla (NASDAQ:TSLA) Stock Price Up 0.2% – Still a Buy?

Tesla, Inc. (NASDAQ:TSLA)’s share price traded up 0.2% on Friday . The company traded as high as $418.88 and last traded at $413.29. 21,690,518 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 74,394,078 shares. The stock had previously closed at $412.38.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wedbush boosted their target price on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Truist Financial reiterated a “hold” rating and set a $360.00 price target on shares of Tesla in a report on Thursday, January 2nd. Canaccord Genuity Group upped their price target on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $309.48.

Tesla Trading Down 0.6 %

The company has a market cap of $1.32 trillion, a price-to-earnings ratio of 112.52, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average is $397.11 and its 200 day moving average is $292.97.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. Research analysts predict that Tesla, Inc. will post 2.01 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock valued at $212,451,751 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors have recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the 3rd quarter valued at approximately $29,000. Clean Yield Group raised its stake 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 acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC raised its stake 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 acquiring an additional 81 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter valued at approximately $35,000. Finally, M&R Capital Management Inc. increased its stake in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. 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.