Tesla (NASDAQ:TSLA) PT Raised to $215.00

Tesla (NASDAQ:TSLA) had its target price lifted by investment analysts at Truist Financial from $162.00 to $215.00 in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a “hold” rating on the electric vehicle producer’s stock. Truist Financial’s price target points to a potential downside of 2.38% from the company’s current price.

Several other brokerages also recently issued reports on TSLA. 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. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research report on Thursday, July 18th. Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Thursday, July 11th. Finally, TD Cowen lifted their price target on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $201.75.

Tesla Stock Performance

Tesla stock opened at $220.25 on Wednesday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The company has a market capitalization of $702.42 billion, a price-to-earnings ratio of 56.19, a PEG ratio of 6.15 and a beta of 2.31. The stock has a fifty day moving average of $204.83 and a two-hundred day moving average of $191.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.68%. 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 previous year, the business earned $0.78 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. On average, analysts anticipate that Tesla will post 1.85 EPS for the current fiscal year.

Insider Transactions at Tesla

In related 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 sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s 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 sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Institutional investors have recently added to or reduced their stakes in the stock. Fort Washington Investment Advisors Inc. OH increased its position in shares of Tesla by 30.6% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,708 shares of the electric vehicle producer’s stock worth $424,000 after purchasing an additional 400 shares during the last quarter. Blackston Financial Advisory Group LLC acquired a new position in Tesla in the fourth quarter worth about $3,619,000. IFG Advisory LLC increased its holdings in Tesla by 4.6% in the fourth quarter. IFG Advisory LLC now owns 15,132 shares of the electric vehicle producer’s stock valued at $3,760,000 after buying an additional 665 shares during the last quarter. Planned Solutions Inc. acquired a new stake in Tesla during the fourth quarter valued at approximately $134,000. Finally, WASHINGTON TRUST Co lifted its holdings in Tesla by 30.0% during the 4th quarter. WASHINGTON TRUST Co now owns 2,421 shares of the electric vehicle producer’s stock worth $602,000 after buying an additional 559 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.