Tesla’s (TSLA) “Hold” Rating Reiterated at Truist Financial

Truist Financial restated their hold rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Thursday morning,Benzinga reports. They currently have a $360.00 price objective on the electric vehicle producer’s stock.

Several other research analysts have also weighed in on TSLA. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Cantor Fitzgerald upped their target price on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wells Fargo & Company increased their price target on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Finally, UBS Group increased their price target on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research report on Monday, November 25th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $283.39.

Tesla Trading Up 8.2 %

Shares of Tesla stock opened at $410.44 on Thursday. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company’s 50-day simple moving average is $362.37 and its 200-day simple moving average is $273.14. The firm has a market cap of $1.32 trillion, a price-to-earnings ratio of 112.45, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla will post 1.99 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 514,886 shares of company stock worth $169,393,831. 20.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connable Office Inc. lifted its position in shares of Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after purchasing an additional 38 shares in the last quarter. Community Bank N.A. increased its stake in Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares during the period. Holistic Financial Partners increased its stake in Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after buying an additional 40 shares during the period. Sherrill & Hutchins Financial Advisory Inc increased its stake in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the period. Finally, Altman Advisors Inc. increased its stake in Tesla by 0.4% during the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors 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.