Tesla (NASDAQ:TSLA) Earns Hold Rating from Truist Financial

Tesla (NASDAQ:TSLA)‘s stock had its “hold” rating restated by stock analysts at Truist Financial in a note issued to investors on Thursday,Benzinga reports. They currently have a $360.00 price objective on the electric vehicle producer’s stock. Truist Financial’s price target would suggest a potential downside of 12.29% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald boosted their price objective on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Thursday, October 17th. Jefferies Financial Group lifted their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group increased their price target on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $283.39.

Tesla Stock Up 8.2 %

NASDAQ TSLA opened at $410.44 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a market cap of $1.32 trillion, a PE ratio of 112.45, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The stock’s 50 day simple moving average is $359.54 and its 200 day simple moving average is $271.59. Tesla has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. As a group, sell-side analysts forecast that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 514,886 shares of company stock worth $169,393,831 over the last ninety days. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the business. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter valued at $29,000. Clean Yield Group grew its holdings in shares of 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 purchasing an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter worth $35,000. 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.