Tesla (NASDAQ:TSLA) Given New $180.00 Price Target at Citigroup

by · The Markets Daily

Tesla (NASDAQ:TSLA – Free Report) had its price target reduced by Citigroup from $196.00 to $180.00 in a research note released on Friday, MarketBeat Ratings reports. They currently have a neutral rating on the electric vehicle producer’s stock.

A number of other research firms have also recently commented on TSLA. Truist Financial cut their target price on Tesla from $193.00 to $176.00 and set a hold rating on the stock in a research report on Wednesday, April 3rd. Wedbush cut their target price on Tesla from $315.00 to $300.00 and set an outperform rating on the stock in a research report on Thursday, March 28th. Edward Jones cut Tesla from a buy rating to a hold rating in a research report on Friday, January 26th. Piper Sandler cut their target price on Tesla from $225.00 to $205.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, HSBC cut their target price on Tesla from $143.00 to $138.00 and set a reduce rating on the stock in a research report on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $198.81.

Check Out Our Latest Report on Tesla

Tesla Stock Down 2.0 %

Shares of NASDAQ TSLA opened at $171.05 on Friday. The company has a market capitalization of $544.76 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 4.49 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The business has a 50-day moving average of $181.83 and a two-hundred day moving average of $214.69. Tesla has a 1 year low of $152.37 and a 1 year high of $299.29.

Tesla (NASDAQ:TSLA – Get Free Report) 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 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 quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. On average, analysts forecast that Tesla will post 2.02 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s 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 approximately $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 in the last quarter. 25.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently bought and sold shares of the stock. Contravisory Investment Management Inc. purchased a new stake in Tesla in the 3rd quarter valued at approximately $25,000. Wyrmwood Management LLC acquired a new position in Tesla in the 4th quarter valued at $25,000. Lam Group Inc. acquired a new position in Tesla in the 4th quarter valued at $25,000. Halpern Financial Inc. raised its holdings in Tesla by 1,111.1% in the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Finally, Alpha Paradigm Partners LLC acquired a new position in Tesla in the 3rd quarter valued at $27,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

(Get Free Report)

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.

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