Tesla’s (TSLA) “Neutral” Rating Reaffirmed at Citigroup

Citigroup restated their neutral rating on shares of Tesla (NASDAQ:TSLA) in a research report released on Wednesday, MarketBeat Ratings reports.

Several other research firms also recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $123.00 to $136.00 and gave the stock a hold rating in a research report on Thursday, April 25th. The Goldman Sachs Group dropped their target price on shares of Tesla from $190.00 to $175.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. UBS Group dropped their target price on shares of Tesla from $160.00 to $147.00 and set a neutral rating for the company in a research report on Wednesday, April 24th. Cantor Fitzgerald assumed coverage on shares of Tesla in a research report on Thursday, May 2nd. They issued an overweight rating and a $230.00 target price for the company. Finally, Wedbush reissued an outperform rating and issued a $275.00 target price on shares of Tesla in a research report on Monday, April 29th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $185.90.

Tesla Stock Performance

Shares of TSLA stock opened at $177.29 on Wednesday. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market capitalization of $565.41 billion, a P/E ratio of 45.23, a P/E/G ratio of 4.31 and a beta of 2.32. The company’s fifty day moving average price is $172.41 and its two-hundred day moving average price is $196.18.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. On average, research analysts anticipate that Tesla will post 1.87 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were 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 approximately $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock worth $19,285,643 over the last 90 days. 20.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Holderness Investments Co. increased its stake in shares of Tesla by 1.6% during 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 during the last quarter. SCS Capital Management LLC increased its stake in shares of Tesla by 0.3% during 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 during the last quarter. Daymark Wealth Partners LLC increased its stake in shares of Tesla by 0.4% during 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 during the last quarter. Cravens & Co Advisors LLC increased its stake in shares of Tesla by 1.2% during the 3rd quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after purchasing an additional 48 shares during the last quarter. Finally, Patten & Patten Inc. TN increased its stake in shares of Tesla by 1.1% during the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after purchasing an additional 48 shares during the last quarter. 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.