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

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price traded up 1.2% during trading on Tuesday . The company traded as high as $326.07 and last traded at $322.27. 42,167,470 shares traded hands during trading, a decline of 61% from the average session volume of 106,767,648 shares. The stock had previously closed at $318.38.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. Wells Fargo & Company reduced their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. HSBC reduced their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a report on Thursday, March 27th. Raymond James cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $287.46.

Tesla Trading Up 5.0%

The firm has a market cap of $1.08 trillion, a price-to-earnings ratio of 163.89, a PEG ratio of 5.86 and a beta of 2.43. The company has a 50-day moving average price of $259.44 and a 200 day moving average price of $328.24. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the business earned $0.45 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joseph Gebbia bought 4,000 shares of the business's stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the acquisition, the director now directly owns 4,111 shares in the company, valued at approximately $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,623 shares of company stock worth $114,400,501 in the last three months. 20.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Geode Capital Management LLC increased its stake in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank bought a new position in Tesla during the fourth quarter valued at about $14,420,248,000. FMR LLC increased its stake in Tesla by 40.1% during the fourth 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 during the period. Finally, Northern Trust Corp increased its stake in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. 66.20% of the stock is currently owned by institutional investors.

About Tesla

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.

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