Citigroup Boosts Tesla (NASDAQ:TSLA) Price Target to $182.00

Tesla (NASDAQ:TSLA - Get Free Report) had its price target increased by equities researchers at Citigroup from $180.00 to $182.00 in a report released on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the electric vehicle producer's stock. Citigroup's price objective points to a potential upside of 12.26% from the company's previous close.

A number of other research analysts also recently issued reports on TSLA. Bank of America upgraded shares of Tesla from a "neutral" rating to a "buy" rating and set a $220.00 price target on the stock in a research report on Wednesday. Royal Bank of Canada reduced their price target on shares of Tesla from $294.00 to $293.00 and set an "outperform" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Tesla from $130.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 3rd. China Renaissance initiated coverage on shares of Tesla in a research report on Monday, February 26th. They issued a "hold" rating on the stock. Finally, Piper Sandler reiterated an "overweight" rating and issued a $205.00 price objective on shares of Tesla in a research report on Monday. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $186.22.

Tesla Stock Up 12.1 %

TSLA traded up $17.45 during trading hours on Wednesday, reaching $162.13. 180,807,331 shares of the stock traded hands, compared to its average volume of 103,011,320. The company has a market cap of $516.35 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 3.75 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. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The firm's fifty day simple moving average is $176.28 and its two-hundred day simple moving average is $208.91.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. Tesla's revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 earnings per share. As a group, analysts forecast that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the 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 completion of the sale, the director now directly owns 15,000 shares of the company's stock, valued at approximately $2,920,950. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company's stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 in the last 90 days. Corporate insiders own 20.90% of the company's stock.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently added to or reduced their stakes in the business. Wyrmwood Management LLC bought a new position in shares of Tesla in the fourth quarter worth $25,000. Lam Group Inc. bought a new stake in Tesla in the fourth quarter valued at approximately $25,000. Mendota Financial Group LLC boosted its holdings in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer's stock worth $34,000 after buying an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV boosted its holdings in shares of Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer's stock worth $35,000 after buying an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds 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.