Tesla (NASDAQ:TSLA) Receives “Hold” Rating from Truist Financial

Truist Financial reaffirmed their hold rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Thursday morning,Benzinga reports. Truist Financial currently has a $360.00 target price on the electric vehicle producer’s stock.

Several other brokerages also recently issued reports on TSLA. Robert W. Baird increased their price objective on shares of Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Canaccord Genuity Group raised their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald raised their target price on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $275.75.

Tesla Stock Performance

TSLA stock opened at $379.28 on Thursday. Tesla has a twelve month low of $138.80 and a twelve month high of $488.54. The business’s fifty day moving average is $359.54 and its 200-day moving average is $271.59. 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 has a market cap of $1.22 trillion, a P/E ratio of 103.91, 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 EPS for the quarter, beating 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 firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Tesla will post 1.99 EPS for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on 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 sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 514,886 shares of company stock worth $169,393,831. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP boosted its position in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after purchasing an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC raised its holdings in 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 valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. Institutional investors and hedge funds 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.