Tesla’s (TSLA) Hold Rating Reaffirmed at Truist Financial

Tesla (NASDAQ:TSLA)‘s stock had its “hold” rating reaffirmed by equities research analysts at Truist Financial in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $215.00 price objective on the electric vehicle producer’s stock. Truist Financial’s target price points to a potential upside of 3.45% from the company’s current price.

TSLA has been the topic of several other reports. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a research report on Wednesday, July 24th. Citigroup decreased their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, July 1st. Barclays decreased their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, July 16th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $204.21.

Tesla Stock Up 5.2 %

Shares of Tesla stock opened at $207.83 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $213.12 and a two-hundred day moving average price of $190.56. The stock has a market capitalization of $662.81 billion, a P/E ratio of 53.02, a PEG ratio of 5.17 and a beta of 2.31. Tesla has a 12-month low of $138.80 and a 12-month high of $278.98.

Tesla (NASDAQ:TSLA) last issued 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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts expect that Tesla will post 1.79 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred 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 transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred 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 transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Norges Bank acquired a new position in shares of Tesla during the 4th quarter worth $7,844,757,000. Clean Energy Transition LLP raised its holdings in shares of Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings 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 worth $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after buying an additional 1,402,443 shares in 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.