Tesla (NASDAQ:TSLA) Shares Up 3.4% - Still a Buy?

Key Points

• Tesla shares rose 3.4% to a trading price of $319.21, despite a significant drop in trading volume, with only approximately 26.57 million shares exchanging hands compared to an average of 106.8 million.
• The company reported $0.40 earnings per share for the last quarter, missing estimates and reflecting an 11.8% decline in revenue year-over-year.
• Analysts have varying ratings on Tesla, with a consensus rating of "Hold" and an average price target of $303.31, amid a mix of sell, hold, and buy ratings from 43 different analysts.

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares traded up 3.4% during trading on Wednesday . The stock traded as high as $318.40 and last traded at $319.21. 26,572,251 shares were traded during mid-day trading, a decline of 75% from the average session volume of 106,796,039 shares. The stock had previously closed at $308.72.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. Wedbush reiterated an "outperform" rating and set a $500.00 price target on shares of Tesla in a report on Monday. The Goldman Sachs Group reduced their price objective on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Finally, Benchmark reaffirmed a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Performance

The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company's 50-day moving average is $319.80 and its two-hundred day moving average is $309.56. The firm has a market cap of $1.03 trillion, a P/E ratio of 183.94, a PEG ratio of 10.85 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 606,724 shares of company stock valued at $215,376,831 in the last ninety days. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Zions Bancorporation National Association UT boosted its holdings in Tesla by 5.5% during the 2nd quarter. Zions Bancorporation National Association UT now owns 23,491 shares of the electric vehicle producer's stock valued at $7,462,000 after acquiring an additional 1,232 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Tesla by 6.2% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 14,260 shares of the electric vehicle producer's stock worth $4,530,000 after purchasing an additional 837 shares during the last quarter. Midwest Trust Co purchased a new position in shares of Tesla in the second quarter worth $61,623,000. LFA Lugano Financial Advisors SA raised its holdings in Tesla by 18.7% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 476 shares of the electric vehicle producer's stock valued at $151,000 after buying an additional 75 shares during the last quarter. Finally, DJE Kapital AG boosted its position in Tesla by 84.9% during the 2nd quarter. DJE Kapital AG now owns 31,620 shares of the electric vehicle producer's stock valued at $10,163,000 after buying an additional 14,520 shares during the period. Institutional investors own 66.20% of the company's stock.

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.