Tesla (NASDAQ:TSLA) Price Target Raised to $182.00

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

A number of other research analysts have also weighed in on the company. Needham & Company LLC reaffirmed a hold rating on shares of Tesla in a report on Wednesday. Jefferies Financial Group reduced their target price on Tesla from $185.00 to $165.00 and set a hold rating for the company in a report on Wednesday, April 10th. Morgan Stanley reduced their target price on Tesla from $320.00 to $310.00 and set an overweight rating for the company in a report on Thursday, April 4th. Canaccord Genuity Group cut their price objective on Tesla from $234.00 to $222.00 and set a buy rating for the company in a report on Wednesday. Finally, Roth Mkm reissued a neutral rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $186.70.

Tesla Trading Down 1.1 %

Shares of Tesla stock opened at $168.29 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. The stock has a market capitalization of $535.97 billion, a P/E ratio of 42.93, a P/E/G ratio of 4.28 and a beta of 2.39. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The stock’s 50-day simple moving average is $175.04 and its 200 day simple moving average is $208.00.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. As a group, research analysts anticipate that Tesla will post 1.97 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, 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 worth $38,802,534 over the last ninety days. Insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Opal Wealth Advisors LLC increased its holdings in shares of Tesla by 1.0% during the third quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after acquiring an additional 42 shares in the last quarter. Holderness Investments Co. lifted its holdings in Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after purchasing an additional 42 shares in the last quarter. SCS Capital Management LLC lifted its holdings in Tesla by 0.3% in the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after purchasing an additional 45 shares in the last quarter. Daymark Wealth Partners LLC lifted its holdings in Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after purchasing an additional 45 shares in the last quarter. Finally, ML & R Wealth Management LLC increased its stake in Tesla by 2.6% in the 3rd quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock worth $455,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 66.20% 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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.