Truist Financial Boosts Tesla (NASDAQ:TSLA) Price Target to $430.00

Tesla (NASDAQ:TSLA) had its target price raised by stock analysts at Truist Financial from $400.00 to $430.00 in a note issued to 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 stock’s previous close.

Several other research analysts have also recently weighed in on TSLA. Cantor Fitzgerald reissued an “overweight” rating on shares of Tesla in a research report on Monday, June 1st. Tigress Financial assumed coverage on Tesla in a research note on Monday, April 27th. They set a “buy” rating on the stock. Sanford C. Bernstein upgraded shares of Tesla from an “underperform” rating to an “outperform” rating in a report on Friday, June 5th. Robert W. Baird dropped their target price on shares of Tesla from $538.00 to $522.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Thursday, June 11th. Twenty-one investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $403.92.

Tesla Stock Down 7.1%

TSLA stock traded down $30.38 during trading on Thursday, reaching $394.92. The stock had a trading volume of 37,689,443 shares, compared to its average volume of 58,443,227. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 363.35, a P/E/G ratio of 16.72 and a beta of 1.80. Tesla has a one year low of $288.77 and a one year high of $498.83. The company’s 50 day moving average is $407.13 and its two-hundred day moving average is $412.38.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. Equities research analysts forecast that Tesla will post 1.2 EPS for the current year.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the transaction, the chief financial officer owned 22,039 shares of the company’s stock, valued at $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 32,015 shares of company stock worth $12,383,640 over the last 90 days. 19.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Crestwood Advisors Group LLC grew its position in Tesla by 34.7% during the fourth quarter. Crestwood Advisors Group LLC now owns 19,567 shares of the electric vehicle producer’s stock worth $8,799,000 after buying an additional 5,039 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Tesla by 29.6% during 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 during the last quarter. Calamos Wealth Management LLC grew its holdings in shares of Tesla by 5.9% during the fourth quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer’s stock worth $18,846,000 after purchasing an additional 2,341 shares in the last quarter. Private Capital Advisors Inc. increased its position in shares of Tesla by 139.3% in the fourth 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 during the last quarter. Finally, Wealthquest Corp purchased a new stake in Tesla in the fourth quarter valued at approximately $1,035,000. 66.20% of the stock is currently owned by institutional investors.

Tesla News Summary

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

About Tesla

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.