Tesla (NASDAQ:TSLA) Trading Up 4.6% – Time to Buy?

Tesla, Inc. (NASDAQ:TSLA) traded up 4.6% during trading on Thursday . The stock traded as high as $399.54 and last traded at $399.15. 44,457,610 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 59,990,281 shares. The stock had previously closed at $381.59.

Key Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Denmark approved Tesla’s Full Self-Driving supervised software, expanding its autonomous-driving footprint in Europe and strengthening the growth story around software revenue. Tesla gets go-ahead to sell self-driving technology in Belgium
• Positive Sentiment: Analysts and commentators continue to highlight Tesla’s robotaxi and self-driving progress, with some calling the company much closer to solving autonomous driving than many investors realize. Tesla Stock (NASDAQ:TSLA) Gains With Another Semi Order
• Positive Sentiment: Wall Street research has turned more constructive, with upgrades and higher price targets reinforcing optimism that TSLA’s valuation can be supported by autonomy, energy, and AI-related optionality. An Analyst Just Raised Tesla’s Price Target by 227%—Here’s Why
• Positive Sentiment: News that Tesla’s China sales rebounded in May helps counter concerns about weakening demand in a key market. What Drove Tesla China’s 22.5% Y/Y Sales Growth in May?
• Neutral Sentiment: Tesla CFO Vaibhav Taneja sold shares, but the filing says the transaction was to cover tax withholding obligations tied to vesting equity awards, which is typically a routine insider sale. Vaibhav Taneja Sells 2,606 Shares of Tesla (NASDAQ:TSLA) Stock
• Negative Sentiment: Some traders remain worried that SpaceX IPO speculation and related Musk headlines have been causing volatility and encouraging rotation out of Tesla shares. TSLA Stock Sinks As SpaceX IPO Nears — Analyst Says Investors Are Selling Tesla To Catch A Day-1 Pop In Next Musk Trade

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Tesla in a research note on Tuesday, April 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a research note on Friday, April 24th. Mizuho cut their price objective on Tesla from $540.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. BTIG Research cut Tesla to a “neutral” rating in a research note on Friday, June 5th. Finally, Jefferies Financial Group reissued a “neutral” rating on shares of Tesla in a research note on Wednesday, April 22nd. Twenty-two investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $404.37.

Tesla Trading Up 4.6%

The company has a market cap of $1.50 trillion, a price-to-earnings ratio of 366.19, a PEG ratio of 15.83 and a beta of 1.80. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $397.29 and its two-hundred day simple moving average is $416.02.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 1.19 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares of the company’s stock, valued at approximately $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the sale, the director owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 57,824 shares of company stock valued at $21,657,588 in the last 90 days. 19.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. PFS Partners LLC increased its holdings in shares of Tesla by 4.2% in the 4th quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer’s stock valued at $265,000 after acquiring an additional 24 shares during the period. Presidio Capital Management LLC boosted its stake in Tesla by 0.6% during the 3rd quarter. Presidio Capital Management LLC now owns 3,996 shares of the electric vehicle producer’s stock worth $1,777,000 after purchasing an additional 25 shares during the period. Journey Advisory Group LLC grew its position in Tesla by 0.7% during the 3rd quarter. Journey Advisory Group LLC now owns 3,414 shares of the electric vehicle producer’s stock worth $1,518,000 after purchasing an additional 25 shares during the last quarter. Boltwood Capital Management grew its position in Tesla by 1.2% during the 4th quarter. Boltwood Capital Management now owns 2,120 shares of the electric vehicle producer’s stock worth $953,000 after purchasing an additional 25 shares during the last quarter. Finally, Woodmont Investment Counsel LLC increased its stake in Tesla by 1.2% in the fourth quarter. Woodmont Investment Counsel LLC now owns 2,124 shares of the electric vehicle producer’s stock valued at $955,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.