Truist Financial reiterated their hold rating on shares of Tesla (NASDAQ:TSLA â Free Report) in a research note published on Wednesday morning, Benzinga reports. Truist Financial currently has a $162.00 target price on the electric vehicle producerâs stock.
A number of other equities research analysts have also recently issued reports on TSLA. Roth Mkm reaffirmed a neutral rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. Citigroup reaffirmed a neutral rating on shares of Tesla in a report on Wednesday, June 12th. Guggenheim lifted their target price on shares of Tesla from $126.00 to $134.00 and gave the stock a sell rating in a report on Wednesday. UBS Group decreased their price target on shares of Tesla from $160.00 to $147.00 and set a neutral rating for the company in a report on Wednesday, April 24th. Finally, Jefferies Financial Group dropped their price objective on Tesla from $185.00 to $165.00 and set a hold rating on the stock in a research note on Wednesday, April 10th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $189.47.
View Our Latest Report on TSLA
Tesla Stock Performance
Shares of TSLA opened at $246.39 on Wednesday. The firm has a market cap of $785.79 billion, a price-to-earnings ratio of 62.85, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31. The companyâs fifty day moving average is $180.89 and its 200-day moving average is $190.93. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29.
Tesla (NASDAQ:TSLA â Get Free Report) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Equities analysts expect that Tesla will post 1.86 EPS for the current fiscal year.
Insider Transactions at Tesla
In related news, SVP Xiaotong Zhu sold 650 shares of Tesla 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 of the companyâs stock, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of the firmâs stock in a transaction 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 completion of the sale, the senior vice president now directly owns 65,155 shares of the companyâs stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is owned by insiders.
Hedge Funds Weigh In On Tesla
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producerâs stock worth $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. Norges Bank bought a new stake in shares of Tesla during the fourth quarter worth $7,844,757,000. Morgan Stanley lifted its stake in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producerâs stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares during the period. Charles Schwab Investment Management Inc. increased its position in Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producerâs stock worth $3,765,933,000 after purchasing an additional 458,804 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producerâs stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. 66.20% of the stock is currently 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.
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