Tesla (NASDAQ:TSLA) Price Target Cut to $196.00 by Analysts at Citigroup

Tesla (NASDAQ:TSLA) had its price target reduced by Citigroup from $224.00 to $196.00 in a research report report published on Wednesday, MarketBeat reports. They currently have a neutral rating on the electric vehicle producer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler reduced their price objective on shares of Tesla from $295.00 to $225.00 and set an overweight rating on the stock in a research report on Monday, February 5th. Jefferies Financial Group decreased their price objective on Tesla from $225.00 to $185.00 and set a hold rating on the stock in a research report on Monday, January 29th. Truist Financial cut their price objective on shares of Tesla from $227.00 to $193.00 and set a hold rating on the stock in a research report on Thursday, January 25th. Oppenheimer reaffirmed a market perform rating on shares of Tesla in a research note on Monday. Finally, TD Cowen reduced their target price on Tesla from $200.00 to $180.00 and set a market perform rating on the stock in a research note on Thursday, January 25th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $207.04.

Tesla Trading Up 1.2 %

Shares of TSLA stock opened at $179.83 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock has a fifty day simple moving average of $188.49 and a two-hundred day simple moving average of $222.36. The firm has a market capitalization of $572.72 billion, a PE ratio of 41.72, a PEG ratio of 3.90 and a beta of 2.41. Tesla has a 52-week low of $152.37 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts predict that Tesla will post 2.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,598 shares of company stock valued at $36,952,434. 20.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new position in shares of Tesla in the 3rd quarter valued at about $25,000. Wyrmwood Management LLC purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $25,000. Lam Group Inc. purchased a new position in shares of Tesla during the 4th quarter valued at approximately $25,000. Halpern Financial Inc. grew its stake in Tesla by 1,111.1% in the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Finally, Alpha Paradigm Partners LLC purchased a new stake in Tesla in the 3rd quarter worth $27,000. 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.