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

Shares of Tesla, Inc. (NASDAQ:TSLA) were up 3.5% on Tuesday . The stock traded as high as $236.29 and last traded at $230.01. Approximately 75,967,351 shares changed 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.

Analysts Set New Price Targets

A number of research firms have issued reports on TSLA. Truist Financial lifted their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and increased their price objective for the company from $180.00 to $388.00 in a research note on Friday. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a research note on Tuesday, February 25th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Jefferies Financial Group upped their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Nine research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $326.43.

Tesla Trading Up 5.0 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market capitalization of $749.93 billion, a PE ratio of 114.29, a PEG ratio of 5.86 and a beta of 2.50. The firm’s fifty day moving average is $363.87 and its two-hundred day moving average is $319.46.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates 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 predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 422,452 shares of company stock valued at $153,659,530. 20.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. True Wealth Design LLC increased its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the period. Transcendent Capital Group LLC purchased a new stake in Tesla in the third quarter worth about $29,000. Horrell Capital Management Inc. grew its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Tesla during the 3rd quarter valued at about $35,000. Finally, GS Investments Inc. lifted its position in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in 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.