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

Tesla (NASDAQ:TSLA) had its price objective boosted by analysts at Citigroup from $182.00 to $274.00 in a research report issued on Friday, BayStreet.CA reports. Citigroup’s target price points to a potential upside of 9.48% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 price target on shares of Tesla in a research report on Monday, July 1st. Stifel Nicolaus started coverage on Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price target on the stock. Royal Bank of Canada decreased their target price on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research note on Thursday. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $201.58.

Tesla Stock Performance

Shares of Tesla stock traded up $9.25 during trading on Friday, hitting $250.28. 126,723,364 shares of the stock were exchanged, compared to its average volume of 99,787,344. 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 12 month low of $138.80 and a 12 month high of $299.29. The stock’s fifty day moving average is $191.41 and its 200 day moving average is $191.76. The stock has a market cap of $798.19 billion, a PE ratio of 63.70, a P/E/G ratio of 6.58 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. As a group, sell-side analysts anticipate that Tesla will post 1.85 EPS for the current year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated 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 disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Institutional Trading of Tesla

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. Norges Bank bought a new stake in shares of Tesla during the fourth quarter worth $7,844,757,000. Charles Schwab Investment Management Inc. boosted its holdings in Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after acquiring an additional 458,804 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

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.