Tesla (NASDAQ:TSLA) Price Target Raised to $238.00 at Truist Financial

Tesla (NASDAQ:TSLA) had its target price increased by Truist Financial from $236.00 to $238.00 in a research note issued to investors on Thursday, Marketbeat.com reports. They currently have a hold rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. Wolfe Research started coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research note on Wednesday, July 24th. Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $219.00.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $269.19 on Thursday. The company has a 50-day simple moving average of $230.53 and a 200-day simple moving average of $207.92. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a market cap of $858.50 billion, a PE ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. Tesla has a 12 month low of $138.80 and a 12 month high of $271.00.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Tesla will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank & Trust Co bought a new stake in shares of Tesla in the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla in the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the period. Clean Yield Group boosted its position in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. increased its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is owned by 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.