Tesla (NASDAQ:TSLA) PT Raised to $424.00 at Citigroup

Tesla (NASDAQ:TSLAGet Rating) had its price objective upped by Citigroup from $375.00 to $424.00 in a research note released on Tuesday, The Fly reports. The firm currently has a sell rating on the electric vehicle producer’s stock.

A number of other analysts have also recently commented on TSLA. Jefferies Financial Group cut their price objective on Tesla from $1,250.00 to $1,050.00 and set a buy rating for the company in a research report on Thursday, May 26th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an outperform rating and issued a $1,000.00 price target on shares of Tesla in a research note on Tuesday, July 19th. Mizuho boosted their price target on Tesla from $1,150.00 to $1,175.00 and gave the stock a buy rating in a research report on Thursday, July 21st. Cowen upped their target price on Tesla from $700.00 to $733.00 in a report on Thursday, July 21st. Finally, Cowen upped their target price on Tesla from $700.00 to $733.00 and gave the company a market perform rating in a report on Thursday, July 21st. Eight investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Tesla has an average rating of Hold and a consensus price target of $859.50.

Tesla Stock Down 6.6 %

NASDAQ TSLA opened at $864.51 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 1.43. The stock has a 50 day moving average price of $743.67 and a 200-day moving average price of $842.10. Tesla has a one year low of $620.57 and a one year high of $1,243.49. The company has a market capitalization of $902.97 billion, a P/E ratio of 104.16, a P/E/G ratio of 2.79 and a beta of 2.17.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The electric vehicle producer reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.46. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The firm had revenue of $16.93 billion during the quarter, compared to analysts’ expectations of $16.92 billion. During the same period last year, the business posted $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 analysts predict that Tesla will post 10.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 8,750 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $904.00, for a total value of $7,910,000.00. Following the transaction, the director now owns 1,800 shares in the company, valued at $1,627,200. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $722.10, for a total transaction of $2,527,350.00. Following the completion of the transaction, the senior vice president now directly owns 20,138 shares of the company’s stock, valued at $14,541,649.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 8,750 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $904.00, for a total value of $7,910,000.00. Following the transaction, the director now directly owns 1,800 shares of the company’s stock, valued at $1,627,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,239 shares of company stock worth $53,099,879. 25.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Tesla during the 4th quarter valued at $7,918,804,000. SG Americas Securities LLC raised its stake in shares of Tesla by 100.9% in the 1st quarter. SG Americas Securities LLC now owns 42,728 shares of the electric vehicle producer’s stock worth $46,044,000 after buying an additional 4,686,913 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tesla by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 65,171,982 shares of the electric vehicle producer’s stock worth $70,229,327,000 after buying an additional 2,723,410 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Tesla by 269,229.9% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,613,286 shares of the electric vehicle producer’s stock worth $1,738,477,000 after buying an additional 1,612,687 shares in the last quarter. Finally, Banque Pictet & Cie SA raised its stake in shares of Tesla by 38,084.4% in the 4th quarter. Banque Pictet & Cie SA now owns 1,494,920 shares of the electric vehicle producer’s stock worth $1,579,802,000 after buying an additional 1,491,005 shares in the last quarter. 40.64% of the stock is owned by institutional investors.

Tesla Company Profile

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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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