Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, Truist Financial Analyst Says

Tesla (NASDAQ:TSLA) had its target price lifted 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.

TSLA has been the subject of a number of other reports. Robert W. Baird raised their target price on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research note on Monday, January 6th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $318.31.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $404.60 on Thursday. The firm’s fifty day moving average is $404.22 and its two-hundred day moving average is $299.05. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a market cap of $1.30 trillion, a P/E ratio of 198.33, a P/E/G ratio of 8.08 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. As a group, analysts anticipate that Tesla will post 2.82 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’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 directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 553,386 shares of company stock worth $196,305,796. 20.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

A number of large investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group grew its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the third quarter worth $35,000. M&R Capital Management Inc. lifted its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla in the 4th quarter worth $46,000. 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.