Tesla (NASDAQ:TSLA) Shares Up 1.2% - Still a Buy?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) rose 1.2% during mid-day trading on Monday . The company traded as high as $332.05 and last traded at $329.31. Approximately 30,103,085 shares were traded during trading, a decline of 70% from the average daily volume of 100,568,582 shares. The stock had previously closed at $325.31.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 23rd. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Cantor Fitzgerald decreased their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada decreased their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and an average target price of $293.67.

Tesla Trading Up 1.2%

The stock has a 50 day moving average of $301.53 and a 200-day moving average of $332.77. The company has a market capitalization of $1.06 trillion, a P/E ratio of 161.34, a P/E/G ratio of 5.86 and a beta of 2.47. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the firm posted $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 in the last three months. 20.70% of the stock is owned by company insiders.

Institutional Trading of Tesla

Several hedge funds have recently modified their holdings of TSLA. Wealth Group Ltd. purchased a new stake in shares of Tesla during the 4th quarter worth approximately $275,000. Tallon Kerry Patrick purchased a new stake in Tesla during the 4th quarter valued at $374,000. Eagle Capital Management LLC purchased a new stake in Tesla during the 4th quarter valued at $331,000. Brighton Jones LLC raised its holdings in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Finally, Revolve Wealth Partners LLC raised its holdings in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after buying an additional 931 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.