Tesla (NASDAQ:TSLA) Shares Up 1.8% - Should You Buy?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares traded up 1.8% on Wednesday . The company traded as high as $335.50 and last traded at $331.90. 51,311,533 shares changed hands during trading, a decline of 53% from the average session volume of 109,499,320 shares. The stock had previously closed at $326.09.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Canaccord Genuity Group cut their target price on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Benchmark restated a "buy" rating and set a $350.00 price objective on shares of Tesla in a research note on Wednesday, April 23rd. Barclays decreased their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Guggenheim reiterated a "sell" rating and issued a $170.00 target price on shares of Tesla in a research note on Thursday, April 24th. Finally, UBS Group reduced their price objective on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $293.67.

Tesla Trading Down 2.2%

The company's fifty day moving average is $295.60 and its two-hundred day moving average is $333.11. The stock has a market cap of $1.03 trillion, a price-to-earnings ratio of 156.43, a PEG ratio of 5.86 and a beta of 2.47. 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 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the business earned $0.45 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock worth $273,791,775 over the last three months. Insiders own 20.70% of the company's stock.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently modified their holdings of TSLA. True Wealth Design LLC lifted its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. raised its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. raised its stake in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in shares of Tesla during the 4th quarter worth $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla during the 4th quarter worth $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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.