Citigroup Boosts Tesla (NASDAQ:TSLA) Price Target to $274.00

Tesla (NASDAQ:TSLA) had its target price upped by Citigroup from $182.00 to $274.00 in a report released on Friday, BayStreet.CA reports. Citigroup’s price objective would indicate a potential upside of 9.48% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. HSBC boosted their price target on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday. Wedbush reissued an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research report on Thursday. TD Cowen raised their target price on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Stifel Nicolaus initiated coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price for the company. Finally, Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $201.58.

Tesla Stock Performance

TSLA stock traded up $9.25 during midday trading on Friday, reaching $250.28. 126,723,364 shares of the company’s stock traded hands, compared to its average volume of 99,787,344. The company has a 50-day moving average price of $191.41 and a two-hundred day moving average price of $191.76. The firm has a market capitalization of $798.19 billion, a PE ratio of 63.70, a price-to-earnings-growth ratio of 6.58 and a beta of 2.31. 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 $299.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. As a group, equities analysts anticipate that Tesla will post 1.85 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Tesla

Several large investors have recently bought and sold shares of TSLA. Beech Hill Advisors Inc. purchased a new position in shares of Tesla during the second quarter worth $220,000. First National Corp MA ADV boosted its stake in shares of Tesla by 33.4% in the second quarter. First National Corp MA ADV now owns 1,869 shares of the electric vehicle producer’s stock worth $370,000 after buying an additional 468 shares during the last quarter. Lion Street Advisors LLC raised its position in Tesla by 19.2% during the second quarter. Lion Street Advisors LLC now owns 3,158 shares of the electric vehicle producer’s stock valued at $625,000 after acquiring an additional 508 shares in the last quarter. Register Financial Advisors LLC lifted its holdings in Tesla by 17.9% in the second quarter. Register Financial Advisors LLC now owns 1,977 shares of the electric vehicle producer’s stock valued at $391,000 after acquiring an additional 300 shares during the period. Finally, St. Louis Financial Planners Asset Management LLC purchased a new stake in Tesla in the 2nd quarter worth approximately $2,391,000. 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.