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

Tesla (NASDAQ:TSLA) had its price objective boosted by Truist Financial from $236.00 to $238.00 in a report issued on Thursday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the electric vehicle producer’s stock. Truist Financial’s price objective indicates a potential downside of 11.59% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Mizuho raised their price objective on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Wolfe Research initiated coverage on Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Glj Research restated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Friday, October 11th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $219.00.

Tesla Stock Performance

Shares of TSLA stock opened at $269.19 on Thursday. The company has a market capitalization of $858.50 billion, a price-to-earnings ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a 50-day simple moving average of $229.47 and a 200 day simple moving average of $206.79.

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

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was 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 in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly 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 Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Integris Wealth Management LLC grew its position in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc grew its position in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after acquiring an additional 43 shares during the period. Echo Wealth Management LLC raised its holdings in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the period. WASHINGTON TRUST Co lifted its stake in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC grew its holdings in Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the period. 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.