Tesla (NASDAQ:TSLA) Trading 1.2% Higher - Time to Buy?

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

Analysts Set New Price Targets

A number of analysts have issued reports on TSLA shares. BNP Paribas set a $137.00 price objective on Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Royal Bank Of Canada reduced their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Raymond James Financial downgraded Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus target price of $293.67.

Tesla Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The firm has a fifty day simple moving average of $304.81 and a 200 day simple moving average of $332.35. The company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 176.95, a price-to-earnings-growth ratio of 12.04 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the business posted $0.45 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director now owns 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the chief financial officer now owns 1,950 shares in the company, valued at approximately $682,500. This trade represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently added to or reduced their stakes in TSLA. Wealth Group Ltd. purchased a new position in Tesla during the fourth quarter worth approximately $275,000. Tallon Kerry Patrick purchased a new position in Tesla during the fourth quarter worth approximately $374,000. Eagle Capital Management LLC purchased a new stake in Tesla in the fourth quarter valued at $331,000. Brighton Jones LLC raised its position in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares during the period. Finally, Revolve Wealth Partners LLC raised its position in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Hedge funds and other institutional investors 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.