Tesla (NASDAQ:TSLA) Price Target Raised to $215.00

Tesla (NASDAQ:TSLA) had its price objective boosted by Truist Financial from $162.00 to $215.00 in a research note released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a hold rating on the electric vehicle producer’s stock.

Several other equities research analysts have also issued reports on the company. Stifel Nicolaus assumed coverage on Tesla in a research report on Tuesday, June 25th. They set a buy rating and a $265.00 target price for the company. Evercore ISI decreased their target price on Tesla from $155.00 to $145.00 and set an in-line rating for the company in a research report on Monday, April 29th. Needham & Company LLC reaffirmed a hold rating on shares of Tesla in a research report on Wednesday. TD Cowen increased their price target on Tesla from $160.00 to $180.00 and gave the stock a hold rating in a research note on Wednesday, July 3rd. Finally, Citigroup cut their price target on Tesla from $274.00 to $258.00 and set a neutral rating for the company in a research note on Wednesday. Nine 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. Based on data from MarketBeat, Tesla has a consensus rating of Hold and an average target price of $204.30.

Tesla Trading Down 0.2 %

NASDAQ TSLA opened at $219.80 on Wednesday. The firm has a market capitalization of $702.18 billion, a P/E ratio of 56.07, a PEG ratio of 5.50 and a beta of 2.31. The business has a fifty day simple moving average of $205.68 and a 200 day simple moving average of $191.23. Tesla has a 12 month low of $138.80 and a 12 month high of $278.98. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that Tesla will post 1.85 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred 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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of Tesla 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 sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The shares were 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 $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently made changes to their positions in TSLA. Lam Group Inc. bought a new stake in Tesla in the fourth quarter worth $25,000. Bank & Trust Co bought a new stake in Tesla in the second quarter worth $25,000. Mendota Financial Group LLC boosted its holdings in 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 acquiring an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in Tesla in the fourth quarter worth $37,000. Finally, Kessler Investment Group LLC boosted its holdings in Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

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.