Tesla (NASDAQ:TSLA) PT Raised to $215.00

Tesla (NASDAQ:TSLA) had its price target increased by equities researchers at Truist Financial from $162.00 to $215.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a “hold” rating on the electric vehicle producer’s stock. Truist Financial’s price objective would suggest a potential downside of 2.38% from the stock’s current price.

A number of other brokerages have also weighed in on TSLA. Barclays boosted their price target on Tesla from $180.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 17th. HSBC boosted their target price on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Guggenheim reaffirmed a “sell” rating and issued a $134.00 price target on shares of Tesla in a report on Tuesday. Jefferies Financial Group dropped their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $201.75.

Tesla Stock Up 2.0 %

Shares of Tesla stock opened at $220.25 on Wednesday. Tesla has a 52-week low of $138.80 and a 52-week high of $278.98. The firm’s 50 day moving average price is $204.83 and its 200-day moving average price is $191.38. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market cap of $702.42 billion, a P/E ratio of 56.19, a PEG ratio of 6.15 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released 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 firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.68% and a net margin of 13.00%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. On average, sell-side analysts predict that Tesla will post 1.85 EPS for the current fiscal year.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated 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 owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated 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 in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently made changes to their positions in TSLA. Lam Group Inc. purchased a new stake in shares of Tesla during the fourth quarter worth approximately $25,000. Bank & Trust Co purchased a new stake in shares of Tesla during the second quarter worth $25,000. Mendota Financial Group LLC lifted its stake in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Tesla during the fourth quarter worth about $37,000. Finally, Guardian Wealth Management Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.