Tesla (NASDAQ:TSLA) PT Raised to $182.00 at Citigroup

Tesla (NASDAQ:TSLA) had its target price raised by equities research analysts at Citigroup from $180.00 to $182.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the electric vehicle producer’s stock. Citigroup’s target price points to a potential upside of 13.21% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Barclays decreased their price target on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Truist Financial cut their price objective on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday. China Renaissance assumed coverage on Tesla in a report on Monday, February 26th. They set a “hold” rating on the stock. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Finally, Mizuho cut their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $186.22.

Tesla Trading Up 11.1 %

NASDAQ TSLA traded up $16.09 on Wednesday, reaching $160.77. 150,564,660 shares of the company were exchanged, compared to its average volume of 102,586,273. The business’s fifty day moving average price is $176.81 and its 200 day moving average price is $209.24. The stock has a market capitalization of $512.02 billion, a P/E ratio of 37.41, a price-to-earnings-growth ratio of 3.75 and a beta of 2.39. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same period last year, the company earned $1.07 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts forecast that Tesla will post 1.97 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, 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 hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,098 shares of company stock worth $38,802,534. Company insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. GHP Investment Advisors Inc. grew its holdings in shares of Tesla by 18.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 922 shares of the electric vehicle producer’s stock valued at $232,000 after buying an additional 146 shares during the period. Exchange Traded Concepts LLC boosted its position in Tesla by 73.8% in the third quarter. Exchange Traded Concepts LLC now owns 7,430 shares of the electric vehicle producer’s stock valued at $1,859,000 after buying an additional 3,156 shares in the last quarter. Capital Asset Advisory Services LLC boosted its position in Tesla by 14.6% in the third quarter. Capital Asset Advisory Services LLC now owns 15,072 shares of the electric vehicle producer’s stock valued at $3,964,000 after buying an additional 1,923 shares in the last quarter. Leverty Financial Group LLC acquired a new position in shares of Tesla during the third quarter worth $213,000. Finally, Roman Butler Fullerton & Co. lifted its holdings in shares of Tesla by 3.8% during the third quarter. Roman Butler Fullerton & Co. now owns 1,314 shares of the electric vehicle producer’s stock worth $330,000 after purchasing an additional 48 shares during the period. Institutional investors own 66.20% of the company’s stock.

About Tesla

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.