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

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

A number of other equities analysts also recently weighed in on TSLA. Piper Sandler reaffirmed an overweight rating and issued a $205.00 target price on shares of Tesla in a research note on Monday, April 22nd. China Renaissance started coverage on shares of Tesla in a research note on Monday, February 26th. They issued a hold rating for the company. Wells Fargo & Company dropped their target price on shares of Tesla from $125.00 to $120.00 and set an underweight rating for the company in a research note on Friday, April 12th. Truist Financial dropped their target price on shares of Tesla from $176.00 to $162.00 and set a hold rating for the company in a research note on Wednesday. Finally, Redburn Atlantic started coverage on shares of Tesla in a research note on Wednesday, January 24th. They issued a sell rating and a $170.00 target price for the company. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $186.70.

Tesla Price Performance

NASDAQ:TSLA opened at $168.29 on Wednesday. The firm has a market cap of $536.71 billion, a PE ratio of 42.93, a price-to-earnings-growth ratio of 4.50 and a beta of 2.39. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $175.04 and its two-hundred day moving average price is $207.61.

Tesla (NASDAQ:TSLA) last released 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 analyst estimates of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Tesla’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share. On average, equities analysts anticipate that Tesla will post 1.97 EPS for the current fiscal year.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were 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 $5,502,726. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 over the last quarter. 25.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wyrmwood Management LLC acquired a new position in Tesla during the fourth quarter worth $25,000. Lam Group Inc. acquired a new position in Tesla during the fourth quarter worth $25,000. Mendota Financial Group LLC boosted its holdings in Tesla by 202.2% during the fourth 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 raised its position 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 acquiring an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in Tesla during the fourth quarter worth $37,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.