Citigroup Reiterates “Neutral” Rating for Tesla (NASDAQ:TSLA)

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

Other analysts have also issued research reports about the stock. HSBC reduced their target price on shares of Tesla from $138.00 to $120.00 and set a reduce rating for the company in a research note on Wednesday, April 24th. Evercore ISI decreased their price objective on shares of Tesla from $155.00 to $145.00 and set an in-line rating for the company in a research note on Monday, April 29th. Roth Mkm restated a neutral rating and issued a $85.00 target price on shares of Tesla in a research note on Wednesday, April 24th. JPMorgan Chase & Co. decreased their price target on Tesla from $130.00 to $115.00 and set an underweight rating for the company in a research report on Wednesday, April 3rd. Finally, UBS Group dropped their price target on Tesla from $160.00 to $147.00 and set a neutral rating on the stock in a report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $185.90.

Tesla Trading Down 2.4 %

TSLA opened at $178.01 on Wednesday. The firm has a market capitalization of $567.71 billion, a PE ratio of 45.41, a P/E/G ratio of 4.53 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company’s 50-day moving average is $172.90 and its 200 day moving average is $195.33.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. As a group, research analysts predict that Tesla will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on 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 owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,855 shares of company stock valued at $19,285,643. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Hedge funds have recently made changes to their positions in the stock. Wyrmwood Management LLC bought a new stake in shares of Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. purchased a new stake in Tesla during the fourth quarter valued at about $25,000. Mendota Financial Group LLC grew its stake in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla in the fourth quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. lifted its stake in shares of Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

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.