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

Tesla (NASDAQ:TSLA) had its price objective upped by Truist Financial from $215.00 to $236.00 in a research report released on Thursday morning, Benzinga reports. Truist Financial currently has a hold rating on the electric vehicle producer’s stock.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group dropped their target price on Tesla from $248.00 to $230.00 and set a neutral rating on the stock in a report on Wednesday, July 24th. Needham & Company LLC reissued a hold rating on shares of Tesla in a report on Wednesday, July 24th. Citigroup dropped their target price on Tesla from $274.00 to $258.00 and set a neutral rating on the stock in a report on Wednesday, July 24th. Robert W. Baird reissued an outperform rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Finally, Sanford C. Bernstein reaffirmed an underperform rating and set a $120.00 price objective on shares of Tesla in a report on Thursday. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $210.54.

Tesla Price Performance

Shares of TSLA stock opened at $250.08 on Thursday. 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. The firm has a market capitalization of $797.55 billion, a P/E ratio of 63.80, a P/E/G ratio of 6.79 and a beta of 2.29. The stock has a 50 day moving average price of $224.00 and a 200 day moving average price of $201.78.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. As a group, sell-side analysts predict that Tesla will post 1.74 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 in the last ninety days. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. ARK Investment Management LLC raised its holdings in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after purchasing an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Tesla by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after purchasing an additional 412,872 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

About Tesla

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.