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

Tesla (NASDAQ:TSLA) had its price target lifted by Truist Financial from $215.00 to $236.00 in a research note released on Thursday, Benzinga reports. Truist Financial currently has a hold rating on the electric vehicle producer’s stock.

Several other research firms have also issued reports on TSLA. Morgan Stanley restated an overweight rating and issued a $310.00 price target on shares of Tesla in a research report on Thursday, September 5th. Guggenheim boosted their target price on Tesla from $134.00 to $153.00 and gave the stock a sell rating in a research report on Friday, September 13th. New Street Research lowered Tesla from a buy rating to a neutral rating and set a $225.00 price target for the company. in a research report on Wednesday, July 24th. Cantor Fitzgerald restated a neutral rating and set a $245.00 price objective on shares of Tesla in a report on Monday, September 30th. Finally, Stifel Nicolaus started coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a buy rating and a $265.00 target price for the company. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $210.54.

Tesla Trading Up 3.9 %

Shares of Tesla stock opened at $250.08 on Thursday. The business has a fifty day simple moving average of $224.00 and a 200-day simple moving average of $201.60. The firm has a market cap of $798.92 billion, a price-to-earnings ratio of 63.80, a price-to-earnings-growth ratio of 6.79 and a beta of 2.29. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted 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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the business posted $0.78 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Tesla will post 1.74 EPS for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla 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 owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several large investors have recently made changes to their positions in TSLA. Bank & Trust Co bought a new stake in shares of Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla in the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC increased its holdings 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 period. M&R Capital Management Inc. raised its position in shares of Tesla by 263.2% during the third 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. Finally, OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla in the fourth quarter valued at about $37,000. Institutional investors and hedge funds 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.