Truist Financial Raises Tesla (NASDAQ:TSLA) Price Target to $236.00

Tesla (NASDAQ:TSLA) had its price target increased by stock analysts at Truist Financial from $215.00 to $236.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the electric vehicle producer’s stock. Truist Financial’s price objective would suggest a potential downside of 4.05% from the stock’s current price.

A number of other analysts have also commented on TSLA. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price target on shares of Tesla in a research note on Monday. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Thursday. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and upped their price objective for the company from $147.00 to $197.00 in a report on Friday, July 12th. TD Cowen upped their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Finally, William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $210.54.

Tesla Trading Down 1.2 %

Shares of NASDAQ TSLA traded down $3.06 during midday trading on Thursday, reaching $245.96. The stock had a trading volume of 22,320,133 shares, compared to its average volume of 95,294,188. The firm has a market cap of $785.75 billion, a price-to-earnings ratio of 62.75, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29. Tesla has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company’s 50 day moving average price is $222.99 and its 200 day moving average price is $200.58.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, sell-side analysts expect that Tesla will post 1.75 EPS for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Hedge funds have recently made changes to their positions in the company. Bank & Trust Co purchased a new stake in shares of Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in Tesla during the 4th quarter valued at about $37,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.