Truist Financial Corp Acquires 2,505 Shares of Tesla, Inc. (NASDAQ:TSLA)

Truist Financial Corp increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 711,302 shares of the electric vehicle producer's stock after purchasing an additional 2,505 shares during the quarter. Truist Financial Corp's holdings in Tesla were worth $184,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Capital Investment Advisory Services LLC grew its stake in shares of Tesla by 15.4% in the first quarter. Capital Investment Advisory Services LLC now owns 8,416 shares of the electric vehicle producer's stock worth $2,181,000 after purchasing an additional 1,125 shares during the last quarter. Columbia River Financial Group LLC bought a new stake in Tesla during the 1st quarter valued at approximately $32,000. Morris Financial Concepts Inc. grew its holdings in shares of Tesla by 13.5% during the 1st quarter. Morris Financial Concepts Inc. now owns 7,960 shares of the electric vehicle producer's stock worth $2,063,000 after acquiring an additional 948 shares during the period. Strategic Blueprint LLC grew its holdings in shares of Tesla by 9.4% during the 1st quarter. Strategic Blueprint LLC now owns 17,331 shares of the electric vehicle producer's stock worth $4,492,000 after acquiring an additional 1,494 shares during the period. Finally, Brookstone Capital Management grew its holdings in shares of Tesla by 7.6% during the 1st quarter. Brookstone Capital Management now owns 134,224 shares of the electric vehicle producer's stock worth $34,786,000 after acquiring an additional 9,497 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TSLA shares. BNP Paribas set a $137.00 target price on Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Wedbush reissued an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research report on Tuesday. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, Cfra Research cut Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $301.24.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares of the company's stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock worth $278,648,925 in the last 90 days. Company insiders own 20.70% of the company's stock.

Tesla Stock Down 0.7%

NASDAQ TSLA opened at $313.56 on Friday. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.01 trillion, a P/E ratio of 172.29, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39. The stock's 50-day moving average price is $320.93 and its 200-day moving average price is $325.92.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the business posted $0.45 EPS. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.

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