Citigroup Boosts Tesla (NASDAQ:TSLA) Price Target to $182.00

Tesla (NASDAQ:TSLA) had its price target hoisted by Citigroup from $180.00 to $182.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the electric vehicle producer’s stock.

Several other research firms also recently issued reports on TSLA. Jefferies Financial Group dropped their target price on Tesla from $185.00 to $165.00 and set a hold rating on the stock in a research report on Wednesday, April 10th. Canaccord Genuity Group dropped their target price on Tesla from $234.00 to $222.00 and set a buy rating on the stock in a research report on Wednesday. Morgan Stanley decreased their price target on shares of Tesla from $320.00 to $310.00 and set an overweight rating on the stock in a report on Thursday, April 4th. Daiwa Capital Markets cut shares of Tesla from an outperform rating to a neutral rating and decreased their price target for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Tesla from $130.00 to $115.00 and set an underweight rating on the stock in a report on Wednesday, April 3rd. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $186.22.

Tesla Trading Up 12.1 %

Shares of TSLA stock opened at $162.13 on Wednesday. The stock has a market capitalization of $516.35 billion, a price-to-earnings ratio of 41.36, a PEG ratio of 3.82 and a beta of 2.39. The company’s fifty day simple moving average is $176.28 and its two-hundred day simple moving average is $208.91. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 13.68% and a net margin of 14.37%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. As a group, analysts anticipate that Tesla will post 1.97 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on 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 sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’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 sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 over the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC purchased a new stake in shares of Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. purchased a new stake in shares of Tesla in the 4th quarter worth approximately $25,000. Mendota Financial Group LLC lifted its position in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV lifted its position in shares of Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 69 shares during the period. Finally, OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla in the 4th quarter worth approximately $37,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.