Tesla (NASDAQ:TSLA) Price Target Increased to $424.00 by Analysts at Citigroup

Tesla (NASDAQ:TSLAGet Rating) had its target price boosted by Citigroup from $375.00 to $424.00 in a research note released on Tuesday morning, The Fly reports. The brokerage currently has a sell rating on the electric vehicle producer’s stock.

Several other research firms have also issued reports on TSLA. The Goldman Sachs Group reduced their target price on shares of Tesla from $1,200.00 to $1,000.00 and set a buy rating for the company in a report on Wednesday, June 1st. Robert W. Baird dropped their price target on Tesla from $1,108.00 to $949.00 in a research note on Thursday, July 21st. Morgan Stanley lowered their target price on Tesla from $1,200.00 to $1,150.00 and set an overweight rating for the company in a research report on Thursday, July 14th. Barclays raised their price target on Tesla from $370.00 to $380.00 and gave the stock an underweight rating in a research report on Monday, July 18th. Finally, Canaccord Genuity Group raised their price target on Tesla from $801.00 to $815.00 in a research report on Thursday, July 21st. Eight equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Tesla has an average rating of Hold and a consensus price target of $859.50.

Tesla Price Performance

NASDAQ TSLA opened at $901.76 on Tuesday. Tesla has a 52 week low of $620.57 and a 52 week high of $1,243.49. The firm has a market capitalization of $941.88 billion, a P/E ratio of 108.65, a PEG ratio of 2.67 and a beta of 2.17. The company has a quick ratio of 1.06, a current ratio of 1.43 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $731.94 and a 200-day moving average price of $843.57.

Tesla (NASDAQ:TSLAGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The electric vehicle producer reported $2.27 EPS for the quarter, beating the consensus estimate of $1.81 by $0.46. The firm had revenue of $16.93 billion during the quarter, compared to analyst estimates of $16.92 billion. Tesla had a net margin of 14.17% and a return on equity of 29.04%. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.02 EPS. Equities research analysts anticipate that Tesla will post 10.68 earnings per share for the current year.

Insider Activity at Tesla

In other news, SVP Andrew D. Baglino sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $722.10, for a total value of $2,527,350.00. Following the completion of the sale, the senior vice president now directly owns 20,138 shares in the company, valued at $14,541,649.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Andrew D. Baglino sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $722.10, for a total value of $2,527,350.00. Following the completion of the sale, the senior vice president now directly owns 20,138 shares in the company, valued at $14,541,649.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Vaibhav Taneja sold 1,518 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $718.31, for a total value of $1,090,394.58. Following the completion of the sale, the chief accounting officer now owns 26,449 shares of the company’s stock, valued at $18,998,581.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,239 shares of company stock worth $53,099,879. 25.10% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Large investors have recently made changes to their positions in the company. AllSquare Wealth Management LLC increased its position in shares of Tesla by 766.7% during the fourth quarter. AllSquare Wealth Management LLC now owns 26 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 23 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Tesla during the fourth quarter worth approximately $32,000. First Financial Corp IN acquired a new position in Tesla during the first quarter worth $32,000. AlphaCentric Advisors LLC acquired a new position in Tesla during the fourth quarter worth $33,000. Finally, Horan Securities Inc. boosted its stake in Tesla by 164.3% during the second quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 23 shares during the last quarter. 40.64% of the stock is currently owned by hedge funds and other institutional investors.

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.

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