Tesla’s (TSLA) Hold Rating Reaffirmed at Truist Financial

Tesla (NASDAQ:TSLA)‘s stock had its “hold” rating restated by Truist Financial in a note issued to investors on Thursday,Benzinga reports. They presently have a $360.00 price target on the electric vehicle producer’s stock. Truist Financial’s price objective suggests a potential downside of 6.80% from the company’s current price.

Several other brokerages have also weighed in on TSLA. Jefferies Financial Group upped their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Wells Fargo & Company raised their price objective on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Finally, StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $275.75.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $17.59 on Thursday, hitting $386.25. The company’s stock had a trading volume of 25,168,674 shares, compared to its average volume of 94,854,445. The company has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 105.82, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The stock’s 50-day moving average is $357.16 and its two-hundred day moving average is $270.84.

Tesla (NASDAQ:TSLA) last announced 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 net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, equities research analysts forecast that Tesla will post 1.99 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 514,886 shares of company stock worth $169,393,831 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of 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 during the last quarter. FMR LLC lifted its holdings in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after buying an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 valued at $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 1.9% in the 3rd 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 period. Finally, Jennison Associates LLC raised its position in shares of Tesla by 11.9% during 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 acquiring an additional 1,294,093 shares during 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.