Tesla (NASDAQ:TSLA) Stock Price Up 3.5% – Time to Buy?

Tesla, Inc. (NASDAQ:TSLA)’s share price rose 3.5% on Tuesday . The company traded as high as $236.29 and last traded at $230.01. Approximately 75,967,351 shares traded hands during trading, a decline of 10% from the average daily volume of 84,457,797 shares. The stock had previously closed at $222.15.

Analyst Ratings Changes

Several brokerages recently issued reports on TSLA. Robert W. Baird dropped their target price on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company lifted their price objective on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. Glj Research reissued a “buy” rating on shares of Tesla in a report on Tuesday. Benchmark started coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target for the company. Finally, TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and raised their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $325.81.

Tesla Stock Down 3.0 %

The business has a 50-day moving average price of $357.29 and a 200 day moving average price of $319.03. The stock has a market capitalization of $774.15 billion, a P/E ratio of 117.98, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TSLA. Norges Bank purchased a new stake in Tesla in the fourth quarter worth about $14,420,248,000. FMR LLC boosted its position in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently 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.