Tesla (NASDAQ:TSLA) Stock Price Up 4.6% – Time to Buy?

Tesla, Inc. (NASDAQ:TSLA)’s share price rose 4.6% on Tuesday . The stock traded as high as $250.44 and last traded at $243.93. Approximately 55,830,503 shares were traded during trading, a decline of 41% from the average daily volume of 94,488,464 shares. The stock had previously closed at $233.29.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a research report on Monday, March 31st. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and boosted their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Mizuho dropped their price objective on Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Royal Bank of Canada lowered their target price on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Finally, Wells Fargo & Company cut their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $305.31.

Tesla Stock Down 2.2 %

The firm has a market cap of $733.97 billion, a P/E ratio of 112.26, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm’s fifty day moving average is $302.70 and its 200 day moving average is $324.17.

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

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This trade 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 the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 370,228 shares of company stock worth $122,791,123. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. True Wealth Design LLC increased its holdings 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 in the last quarter. Horrell Capital Management Inc. increased 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 valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. raised its holdings 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 buying an additional 58 shares during the last quarter. Navigoe LLC acquired a new stake in Tesla during the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds 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.