Citigroup Lowers Tesla (NASDAQ:TSLA) Price Target to $196.00

Tesla (NASDAQ:TSLAFree Report) had its price objective trimmed by Citigroup from $224.00 to $196.00 in a report published on Wednesday morning, MarketBeat.com reports. The brokerage currently has a neutral rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. Wells Fargo & Company cut shares of Tesla from an equal weight rating to an underweight rating and cut their target price for the stock from $200.00 to $125.00 in a research report on Wednesday, March 13th. Wedbush reaffirmed an outperform rating and set a $315.00 price objective on shares of Tesla in a research note on Wednesday, March 13th. Oppenheimer reissued a market perform rating on shares of Tesla in a research report on Monday. Mizuho restated a neutral rating and set a $195.00 price objective (down from $270.00) on shares of Tesla in a report on Monday. Finally, Guggenheim raised their price objective on Tesla from $125.00 to $132.00 and gave the stock a sell rating in a report on Friday, December 15th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $207.04.

Check Out Our Latest Research Report on Tesla

Tesla Stock Up 1.2 %

TSLA stock opened at $179.83 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $188.49 and its 200 day moving average price is $222.36. Tesla has a 52 week low of $152.37 and a 52 week high of $299.29. The company has a market cap of $572.72 billion, a P/E ratio of 41.72, a P/E/G ratio of 3.90 and a beta of 2.41.

Tesla (NASDAQ:TSLAGet Free Report) 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 return on equity of 16.62% and a net margin of 15.50%. The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period last year, the firm earned $1.07 EPS. Tesla’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts expect that Tesla will post 2.44 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’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 completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,598 shares of company stock valued at $36,952,434. 20.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

Hedge funds have recently made changes to their positions in the business. Axiom Financial Strategies LLC increased its holdings in shares of Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after purchasing an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Tesla by 19.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after buying an additional 164,789 shares during the period. MAS Advisors LLC raised its position in shares of Tesla by 25.7% during the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after buying an additional 81 shares in the last quarter. Ergoteles LLC lifted its stake in shares of Tesla by 33.4% in the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after acquiring an additional 893 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Tesla by 6.8% in the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after acquiring an additional 4,593 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

About Tesla

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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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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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