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

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

A number of other research analysts also recently issued reports on TSLA. HSBC lowered their price target on Tesla from $138.00 to $120.00 and set a reduce rating on the stock in a report on Wednesday. China Renaissance initiated coverage on Tesla in a research report on Monday, February 26th. They set a hold rating for the company. Robert W. Baird reiterated an outperform rating and set a $280.00 price objective on shares of Tesla in a research report on Wednesday, April 17th. Canaccord Genuity Group reduced their price objective on Tesla from $267.00 to $234.00 and set a buy rating for the company in a research report on Thursday, January 25th. Finally, Morgan Stanley reduced their price objective on Tesla from $320.00 to $310.00 and set an overweight rating for the company in a research report on Thursday, April 4th. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $186.70.

Tesla Trading Down 1.1 %

Shares of NASDAQ:TSLA opened at $168.29 on Wednesday. The company has a market cap of $535.97 billion, a P/E ratio of 42.93, a PEG ratio of 4.28 and a beta of 2.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.25. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The stock’s fifty day moving average price is $175.04 and its 200-day moving average price is $208.00.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. Sell-side analysts expect that Tesla will post 1.97 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla 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 completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last ninety days. 25.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wyrmwood Management LLC acquired a new stake in Tesla during the 4th quarter worth about $25,000. Lam Group Inc. acquired a new position in shares of Tesla during the 4th quarter worth approximately $25,000. Mendota Financial Group LLC boosted its holdings in shares of Tesla by 202.2% during 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 last quarter. Ogorek Anthony Joseph NY ADV lifted its stake in Tesla by 94.5% during the third 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 in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in Tesla during the fourth quarter worth $37,000. 66.20% of the stock is currently 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.