Tesla (NASDAQ:TSLA) Earns “Neutral” Rating from Citigroup

Citigroup reiterated their neutral rating on shares of Tesla (NASDAQ:TSLAFree Report) in a research report report published on Wednesday morning, MarketBeat.com reports.

TSLA has been the topic of a number of other reports. Needham & Company LLC reiterated a hold rating on shares of Tesla in a research note on Wednesday, April 24th. Roth Mkm reiterated a neutral rating and issued a $85.00 price objective on shares of Tesla in a research note on Wednesday, April 24th. The Goldman Sachs Group dropped their price objective on Tesla from $190.00 to $175.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Cantor Fitzgerald began coverage on Tesla in a report on Thursday, May 2nd. They issued an overweight rating and a $230.00 price target for the company. Finally, Jefferies Financial Group decreased their price objective on Tesla from $185.00 to $165.00 and set a hold rating on the stock in a report on Wednesday, April 10th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $185.90.

View Our Latest Analysis on Tesla

Tesla Price Performance

NASDAQ TSLA opened at $178.01 on Wednesday. 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 stock’s 50-day moving average is $172.90 and its two-hundred day moving average is $195.68. The firm has a market cap of $567.71 billion, a P/E ratio of 45.41, a price-to-earnings-growth ratio of 4.40 and a beta of 2.32. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last posted 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. The business had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, analysts anticipate that Tesla will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Insiders sold 104,855 shares of company stock valued at $19,285,643 in the last three months. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Holderness Investments Co. increased its holdings in shares of Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares in the last quarter. SCS Capital Management LLC increased its holdings in shares of Tesla by 0.3% in the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after purchasing an additional 45 shares in the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares in the last quarter. Cravens & Co Advisors LLC increased its holdings in shares of Tesla by 1.2% in the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock valued at $1,025,000 after purchasing an additional 48 shares in the last quarter. Finally, Patten & Patten Inc. TN increased its holdings in shares of Tesla by 1.1% in the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

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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.

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