Tesla (NASDAQ:TSLA – Get Rating) had its target price hoisted by stock analysts at Citigroup from $375.00 to $424.00 in a research note issued to investors on Tuesday, The Fly reports. Citigroup’s price objective points to a potential downside of 52.46% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. UBS Group upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $1,100.00 price objective on the stock in a research report on Thursday, June 9th. Canaccord Genuity Group boosted their price target on shares of Tesla from $801.00 to $815.00 in a research report on Thursday, July 21st. Credit Suisse Group reiterated an “outperform” rating and set a $1,000.00 price target on shares of Tesla in a research report on Tuesday, July 19th. Royal Bank of Canada upgraded shares of Tesla from a “sector perform” rating to an “outperform” rating and reduced their price target for the company from $1,175.00 to $1,100.00 in a research report on Monday, June 13th. Finally, Robert W. Baird reduced their price target on shares of Tesla from $1,108.00 to $949.00 in a research report on Thursday, July 21st. Eight equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $859.38.
Tesla Stock Performance
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NASDAQ TSLA opened at $891.83 on Tuesday. The company has a market capitalization of $931.51 billion, a P/E ratio of 107.45, a P/E/G ratio of 2.67 and a beta of 2.17. The company has a fifty day moving average of $726.47 and a 200-day moving average of $843.16. Tesla has a 52-week low of $620.57 and a 52-week high of $1,243.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 1.43.
Tesla (NASDAQ:TSLA – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The electric vehicle producer reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.46. Tesla had a net margin of 14.17% and a return on equity of 29.04%. The firm had revenue of $16.93 billion for the quarter, compared to analysts’ expectations of $16.92 billion. During the same quarter in the previous year, the company earned $1.02 earnings per share. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year. As a group, equities research analysts predict that Tesla will post 10.68 EPS for the current fiscal year.
Insider Transactions at Tesla
In other news, SVP Andrew D. Baglino sold 3,500 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $791.50, for a total transaction of $2,770,250.00. Following the transaction, the senior vice president now owns 20,567 shares of the company’s stock, valued at approximately $16,278,780.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Andrew D. Baglino sold 3,500 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $791.50, for a total transaction of $2,770,250.00. Following the transaction, the senior vice president now owns 20,567 shares of the company’s stock, valued at approximately $16,278,780.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Zachary Kirkhorn sold 2,538 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $718.31, for a total transaction of $1,823,070.78. Following the transaction, the chief financial officer now directly owns 62,402 shares in the company, valued at approximately $44,823,980.62. The disclosure for this sale can be found here. Insiders sold 39,989 shares of company stock valued at $30,073,729 over the last 90 days. 25.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of TSLA. Acorn Financial Advisory Services Inc. ADV lifted its position in Tesla by 0.4% in the first quarter. Acorn Financial Advisory Services Inc. ADV now owns 2,404 shares of the electric vehicle producer’s stock valued at $2,591,000 after buying an additional 10 shares during the last quarter. Shilanski & Associates Inc. lifted its position in Tesla by 4.9% in the first quarter. Shilanski & Associates Inc. now owns 215 shares of the electric vehicle producer’s stock valued at $232,000 after buying an additional 10 shares during the last quarter. Tennessee Valley Asset Management Partners lifted its position in Tesla by 3.2% in the first quarter. Tennessee Valley Asset Management Partners now owns 323 shares of the electric vehicle producer’s stock valued at $348,000 after buying an additional 10 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its position in Tesla by 0.6% in the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,847 shares of the electric vehicle producer’s stock valued at $1,952,000 after buying an additional 11 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Tesla by 5.8% in the first quarter. Empowered Funds LLC now owns 202 shares of the electric vehicle producer’s stock valued at $218,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 40.64% 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.
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