Tesla (NASDAQ:TSLA) PT Lowered to $162.00 at Truist Financial

Tesla (NASDAQ:TSLA) had its price objective trimmed by Truist Financial from $176.00 to $162.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a hold rating on the electric vehicle producer’s stock.

A number of other research analysts have also issued reports on TSLA. Jefferies Financial Group lowered their target price on shares of Tesla from $185.00 to $165.00 and set a hold rating on the stock in a research note on Wednesday, April 10th. Royal Bank of Canada reaffirmed an outperform rating and set a $298.00 price objective on shares of Tesla in a report on Wednesday, March 27th. Edward Jones downgraded shares of Tesla from a buy rating to a hold rating in a report on Friday, January 26th. The Goldman Sachs Group cut their price target on shares of Tesla from $190.00 to $175.00 and set a neutral rating for the company in a report on Tuesday, April 9th. Finally, Oppenheimer restated a market perform rating on shares of Tesla in a research report on Tuesday, April 2nd. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $186.22.

Tesla Stock Up 12.1 %

Shares of NASDAQ:TSLA opened at $162.13 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The company has a market cap of $516.35 billion, a PE ratio of 41.36, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The firm has a 50 day simple moving average of $176.28 and a 200 day simple moving average of $208.91.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.68%. The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the prior year, the company posted $1.07 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, research analysts expect that Tesla will post 1.97 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently modified their holdings of the business. Wyrmwood Management LLC acquired a new position in shares of Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. bought a new position in shares of Tesla in the fourth quarter worth about $25,000. Mendota Financial Group LLC lifted its holdings in shares of 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 during the last quarter. Ogorek Anthony Joseph NY ADV lifted its holdings in shares of Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 69 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla in the fourth quarter valued at approximately $37,000. 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.