Truist Financial Raises Tesla (NASDAQ:TSLA) Price Target to $215.00

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

Other equities analysts also recently issued research reports about the stock. Oppenheimer reissued a market perform rating on shares of Tesla in a research note on Tuesday, July 9th. Bank of America raised shares of Tesla from a neutral rating to a buy rating and set a $220.00 price objective on the stock in a research note on Wednesday, April 24th. New Street Research downgraded shares of Tesla from a buy rating to a neutral rating and set a $225.00 price objective on the stock. in a research note on Wednesday. Jefferies Financial Group reduced their price objective on shares of Tesla from $185.00 to $165.00 and set a hold rating on the stock in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada cut their price target on shares of Tesla from $293.00 to $227.00 and set an outperform rating on the stock in a research note on Thursday, June 20th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $204.30.

Tesla Stock Down 0.2 %

TSLA stock opened at $219.80 on Wednesday. The company’s 50 day simple moving average is $205.68 and its 200-day simple moving average is $190.93. The firm has a market capitalization of $702.18 billion, a PE ratio of 56.07, a P/E/G ratio of 5.50 and a beta of 2.31. Tesla has a 12 month low of $138.80 and a 12 month high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. Equities analysts expect that Tesla will post 1.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were 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 of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares during the last quarter. Norges Bank bought a new position in shares of Tesla in the 4th quarter worth about $7,844,757,000. Charles Schwab Investment Management Inc. lifted its position in shares of Tesla by 3.1% in the 4th 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 buying an additional 458,804 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Tesla by 12.9% in the 1st 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 buying an additional 1,125,329 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Tesla by 25,990.7% in the 4th 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 buying an additional 6,179,032 shares during the last quarter. 66.20% of the stock is currently owned by 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.