Tesla (NASDAQ:TSLA) Price Target Increased to $236.00 by Analysts at Truist Financial

by · The Cerbat Gem

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

Other analysts have also issued research reports about the company. China Renaissance raised Tesla from a hold rating to a buy rating and set a $290.00 price target on the stock in a research note on Friday, July 5th. William Blair started coverage on shares of Tesla in a report on Thursday, August 29th. They issued an outperform rating on the stock. Sanford C. Bernstein reiterated an underperform rating and set a $120.00 target price on shares of Tesla in a research report on Thursday. Canaccord Genuity Group restated a buy rating and issued a $254.00 price target on shares of Tesla in a research report on Friday, September 13th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, September 5th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of Hold and an average target price of $210.54.

Check Out Our Latest Stock Analysis on Tesla

Tesla Trading Up 3.9 %

Shares of TSLA stock opened at $250.08 on Thursday. The firm has a fifty day moving average of $224.00 and a 200-day moving average of $201.60. The stock has a market cap of $798.92 billion, a price-to-earnings ratio of 63.80, a P/E/G ratio of 6.79 and a beta of 2.29. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00. 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 (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (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 return on equity of 10.41% and a net margin of 13.00%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. On average, equities research analysts forecast that Tesla will post 1.74 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the 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 sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s 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 completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the 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 completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Red Spruce Capital LLC grew its position in shares of Tesla by 4.1% in the 3rd quarter. Red Spruce Capital LLC now owns 1,963 shares of the electric vehicle producer’s stock valued at $514,000 after purchasing an additional 78 shares during the period. waypoint wealth counsel lifted its stake in Tesla by 20.8% in the third quarter. waypoint wealth counsel now owns 1,776 shares of the electric vehicle producer’s stock valued at $465,000 after buying an additional 306 shares in the last quarter. Halpern Financial Inc. boosted its holdings in shares of Tesla by 51.5% in the third quarter. Halpern Financial Inc. now owns 506 shares of the electric vehicle producer’s stock valued at $126,000 after buying an additional 172 shares during the period. Mirador Capital Partners LP increased its position in shares of Tesla by 14.5% during the third quarter. Mirador Capital Partners LP now owns 4,304 shares of the electric vehicle producer’s stock worth $1,126,000 after acquiring an additional 544 shares in the last quarter. Finally, Central Valley Advisors LLC acquired a new stake in shares of Tesla during the third quarter worth $1,085,000. 66.20% of the stock is owned by institutional investors and hedge funds.

About Tesla

(Get Free Report)

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.

Featured Articles