Tesla (NASDAQ:TSLA – Get Free Report) had its price objective upped by equities researchers at Truist Financial from $400.00 to $430.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the electric vehicle producer’s stock. Truist Financial’s price target points to a potential upside of 8.88% from the company’s current price.
Several other equities research analysts have also recently weighed in on TSLA. Canaccord Genuity Group upped their price objective on shares of Tesla from $420.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday. Guggenheim started coverage on shares of Tesla in a research report on Monday. They set a “neutral” rating on the stock. Phillip Securities lowered their price objective on shares of Tesla from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Wednesday, May 13th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Tesla in a report on Tuesday, April 21st. Twenty-one investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $403.92.
Get Our Latest Analysis on TSLA
Tesla Stock Performance
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 earnings per share. As a group, sell-side analysts predict that Tesla will post 1.2 earnings per share for the current year.
Insider Transactions at Tesla
In related news, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. This trade represents a 14.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 32,015 shares of company stock valued at $12,383,640. Insiders own 19.90% of the company’s stock.
Hedge Funds Weigh In On Tesla
Several large investors have recently modified their holdings of TSLA. Crestwood Advisors Group LLC lifted its stake in shares of Tesla by 34.7% in the fourth quarter. Crestwood Advisors Group LLC now owns 19,567 shares of the electric vehicle producer’s stock valued at $8,799,000 after buying an additional 5,039 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in Tesla by 29.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer’s stock valued at $14,487,000 after acquiring an additional 7,446 shares in the last quarter. Calamos Wealth Management LLC boosted its stake in Tesla by 5.9% during the 4th quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer’s stock valued at $18,846,000 after purchasing an additional 2,341 shares during the last quarter. Private Capital Advisors Inc. increased its holdings in Tesla by 139.3% during the 4th quarter. Private Capital Advisors Inc. now owns 21,331 shares of the electric vehicle producer’s stock worth $9,593,000 after purchasing an additional 12,417 shares in the last quarter. Finally, Wealthquest Corp purchased a new stake in shares of Tesla in the fourth quarter worth approximately $1,035,000. Institutional investors own 66.20% of the company’s stock.
More Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla reported Q2 deliveries of 480,126 vehicles, far above estimates, signaling stronger-than-expected demand and easing worries about an extended sales slowdown. Tesla posts stronger-than-expected Q2 deliveries as Europe sales improve
- Positive Sentiment: China-made EV sales rose 24.4% in June, extending Tesla’s recovery in one of its most important markets and reinforcing the improving global demand picture. Tesla’s China-made EV sales rise 24.4% year on year in June
- Positive Sentiment: Management’s new FSD rollout for older Hardware 3 vehicles is supporting Tesla’s autonomy narrative, giving bulls fresh evidence that the company is still making progress on one of its key long-term growth drivers. Tesla Stock Surges 15% as FSD Update Backs Its Autonomy Thesis
- Neutral Sentiment: Analysts at Deutsche Bank and TD Cowen reiterated Buy ratings, while other firms kept a Hold stance, suggesting sentiment is improving but valuation remains a major debate. Tesla: Strong Q2 Deliveries Support Core Franchise but Valuation Keeps Risk/Reward Neutral, Warrants Hold
- Negative Sentiment: Michael Burry disclosed a short position against Tesla, adding a high-profile bearish overhang even as the stock benefits from strong delivery data. Big Short Investor Michael Burry Reveals Tesla, Nvidia Shorts, Says Chip Boom Is ‘Beginning of the End’
- Negative Sentiment: Despite the delivery beat, shares have faced pressure from ongoing valuation concerns, competition, and mixed investor reaction to the broader EV outlook. Tesla Stock Falls Despite Beating Q2 Deliveries; China Sales Rise for Eight Straight Months
Tesla Company Profile
Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.
Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.
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