Tesla (NASDAQ:TSLA) Stock Price Up 4.7% - Still a Buy?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shot up 4.7% on Tuesday . The company traded as high as $451.98 and last traded at $450.68. 28,791,843 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 95,030,086 shares. The stock had previously closed at $430.60.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Phillip Securities downgraded Tesla from a "moderate sell" rating to a "strong sell" rating in a research report on Wednesday, November 13th. Truist Financial boosted their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a "hold" rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. Canaccord Genuity Group increased their target price on Tesla from $254.00 to $278.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price target on Tesla from $195.00 to $300.00 and gave the stock a "hold" rating in a research note on Thursday, November 14th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of "Hold" and an average price target of $272.06.

Tesla Stock Up 7.4 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock's 50 day simple moving average is $327.11 and its two-hundred day simple moving average is $258.83. The firm has a market cap of $1.48 trillion, a P/E ratio of 126.65, a P/E/G ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company's stock, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 514,886 shares of company stock worth $169,393,831. 20.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer's stock valued at $15,469,792,000 after purchasing an additional 1,022,589 shares in the last quarter. FMR LLC boosted its stake in shares of Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer's stock worth $6,473,008,000 after acquiring an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer's stock valued at $4,328,884,000 after buying an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer's stock worth $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. 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.