Tesla (NASDAQ:TSLA) Given New $182.00 Price Target at Citigroup

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

A number of other analysts have also commented on TSLA. Sanford C. Bernstein cut their price target on Tesla from $150.00 to $120.00 and set an underperform rating on the stock in a report on Tuesday, March 26th. Bank of America upgraded Tesla from a neutral rating to a buy rating and set a $220.00 target price on the stock in a report on Wednesday. HSBC dropped their target price on Tesla from $138.00 to $120.00 and set a reduce rating on the stock in a report on Wednesday. Oppenheimer reiterated a market perform rating on shares of Tesla in a report on Wednesday. Finally, KGI Securities reiterated a neutral rating and set a $213.00 target price (down previously from $309.00) on shares of Tesla in a report on Thursday, January 25th. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of Hold and an average target price of $186.22.

Tesla Stock Performance

Shares of Tesla stock opened at $162.13 on Wednesday. The firm has a market cap of $516.35 billion, a price-to-earnings ratio of 41.36, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. The stock’s 50-day moving average is $176.28 and its 200-day moving average is $208.91. Tesla has a one year low of $138.80 and a one 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 issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion during 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 13.68%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share. Equities analysts predict that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 over the last 90 days. 25.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of large investors have recently modified their holdings of TSLA. Wyrmwood Management LLC bought a new position in shares of Tesla in the 4th quarter valued at $25,000. Lam Group Inc. bought a new position in shares of Tesla in the 4th quarter valued at $25,000. Mendota Financial Group LLC lifted its stake 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 valued at $34,000 after acquiring an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV lifted its stake 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 valued at $35,000 after acquiring an additional 69 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new position in shares of Tesla in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.