Truist Financial Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its price objective raised by Truist Financial from $351.00 to $373.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a hold rating on the electric vehicle producer’s stock.

Several other equities analysts have also recently weighed in on TSLA. Wells Fargo & Company raised their target price on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. The Goldman Sachs Group upped their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Jefferies Financial Group lifted their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Finally, UBS Group upped their target price on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research report on Monday, November 25th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $318.31.

Tesla Stock Up 2.9 %

Shares of TSLA stock opened at $400.28 on Thursday. The firm’s fifty day moving average price is $401.98 and its two-hundred day moving average price is $297.28. Tesla has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.28 trillion, a P/E ratio of 196.22, a PEG ratio of 8.08 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. On average, equities analysts predict that Tesla will post 2.82 EPS for the current fiscal year.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $31,548,461.84. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 553,386 shares of company stock worth $196,305,796 in the last three months. Company insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TSLA. Quarry LP purchased a new stake in Tesla during the 2nd quarter worth about $48,000. Cim LLC bought a new stake in shares of Tesla during the 2nd quarter valued at about $292,000. Heritage Wealth Management Inc. bought a new position in shares of Tesla in the second quarter worth approximately $269,000. Centaurus Financial Inc. raised its stake in Tesla by 41.0% in the second quarter. Centaurus Financial Inc. now owns 23,470 shares of the electric vehicle producer’s stock valued at $4,644,000 after purchasing an additional 6,823 shares in the last quarter. Finally, Ashburton Jersey Ltd purchased a new position in Tesla in the 2nd quarter worth approximately $63,000. 66.20% of the stock is currently owned by hedge funds and other 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.