Tesla (NASDAQ:TSLA) PT Lowered to $258.00 at Citigroup

Tesla (NASDAQ:TSLA) had its target price cut by investment analysts at Citigroup from $274.00 to $258.00 in a research note issued on Wednesday, Marketbeat reports. The brokerage presently has a “neutral” rating on the electric vehicle producer’s stock. Citigroup’s target price indicates a potential upside of 17.14% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a report on Friday, July 5th. Evercore ISI dropped their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday, April 29th. Stifel Nicolaus assumed coverage on shares of Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target on the stock. Finally, HSBC raised their price target on shares of Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $201.75.

Tesla Stock Up 2.0 %

Shares of NASDAQ TSLA opened at $220.25 on Wednesday. The business has a fifty day moving average of $204.83 and a two-hundred day moving average of $191.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla has a 52-week low of $138.80 and a 52-week high of $278.98. The stock has a market cap of $702.42 billion, a PE ratio of 56.19, a PEG ratio of 6.15 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.68% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the company posted $0.78 earnings per share. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Tesla will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lam Group Inc. bought a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Bank & Trust Co acquired a new stake in Tesla in the 2nd quarter valued at approximately $25,000. Mendota Financial Group LLC lifted its stake in 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 in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Tesla during the 4th quarter worth approximately $37,000. Finally, Kessler Investment Group LLC boosted its position in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.