Tesla (NASDAQ:TSLA) PT Raised to $182.00 at Citigroup

Tesla (NASDAQ:TSLA) had its price target increased by equities research analysts at Citigroup from $180.00 to $182.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the electric vehicle producer’s stock. Citigroup’s price target points to a potential upside of 13.21% from the stock’s current price.

A number of other research firms have also recently weighed in on TSLA. Royal Bank of Canada decreased their price target on Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a report on Wednesday. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Wednesday. Jefferies Financial Group reduced their target price on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Piper Sandler reiterated an “overweight” rating and set a $205.00 target price on shares of Tesla in a research note on Monday. Finally, Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $186.22.

Tesla Trading Up 11.1 %

TSLA traded up $16.09 on Wednesday, reaching $160.77. 150,564,660 shares of the company’s stock were exchanged, compared to its average volume of 102,586,273. The company’s 50 day moving average is $176.81 and its 200-day moving average is $209.24. The company has a market cap of $512.02 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 3.75 and a beta of 2.39. Tesla has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 EPS. Equities analysts predict that Tesla will post 1.97 earnings per share for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the 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 transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. Norges Bank acquired a new stake in Tesla in the 4th quarter valued at approximately $7,844,757,000. Morgan Stanley grew its holdings in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. FMR LLC grew its holdings in shares of Tesla by 0.9% during the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after purchasing an additional 269,182 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after purchasing an additional 909,170 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

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.