Tesla (NASDAQ:TSLA) Price Target Raised to $215.00

Tesla (NASDAQ:TSLA) had its price objective hoisted by Truist Financial from $162.00 to $215.00 in a report released on Wednesday morning, MarketBeat reports. The brokerage currently has a hold rating on the electric vehicle producer’s stock.

TSLA has been the subject of several other reports. HSBC increased their price target on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Cantor Fitzgerald downgraded Tesla from an overweight rating to a neutral rating and increased their price target for the stock from $230.00 to $245.00 in a report on Wednesday. Barclays increased their price target on Tesla from $180.00 to $225.00 and gave the stock an equal weight rating in a report on Wednesday, July 17th. Wells Fargo & Company reiterated an underweight rating and issued a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Finally, Evercore ISI cut their price objective on Tesla from $155.00 to $145.00 and set an in-line rating for the company in a research report on Monday, April 29th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $204.30.

Tesla Price Performance

TSLA stock opened at $219.80 on Wednesday. The company has a market capitalization of $702.18 billion, a P/E ratio of 56.07, a PEG ratio of 5.50 and a beta of 2.31. Tesla has a twelve month low of $138.80 and a twelve month high of $278.98. The business has a 50 day simple moving average of $205.68 and a 200-day simple moving average of $191.23. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the business earned $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla will post 1.85 EPS for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth approximately $7,844,757,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tesla by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after purchasing an additional 458,804 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. 66.20% of the stock is 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.