Citigroup Inc. reissued their hold rating on shares of Tesla Inc. (NASDAQ:TSLA) in a research note released on Wednesday morning. They currently have a $367.00 target price on the electric vehicle producer’s stock.
Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group, Inc. boosted their price target on shares of Tesla from $180.00 to $190.00 in a report on Friday, August 4th. Vetr lowered shares of Tesla from a strong-buy rating to a buy rating and set a $371.27 price target on the stock. in a report on Monday, July 24th. Berenberg Bank reissued a buy rating on shares of Tesla in a report on Thursday, August 3rd. Argus raised shares of Tesla from a hold rating to a buy rating and boosted their price target for the company from $355.17 to $444.00 in a report on Tuesday, August 8th. Finally, Guggenheim reissued a buy rating and issued a $430.00 price target on shares of Tesla in a report on Thursday, August 10th. Ten equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $330.28.
Shares of Tesla (NASDAQ:TSLA) traded up $2.55 during trading on Wednesday, reaching $315.05. 13,682,753 shares of the company’s stock traded hands, compared to its average volume of 6,429,817. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09. Tesla has a 12-month low of $180.00 and a 12-month high of $389.61.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.09) by $0.17. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. analysts expect that Tesla will post -11.38 EPS for the current fiscal year.
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In related news, VP John Douglas Field sold 600 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $301.60, for a total transaction of $180,960.00. Following the completion of the sale, the vice president now directly owns 21,424 shares of the company’s stock, valued at approximately $6,461,478.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Eric Branderiz sold 1,736 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $302.31, for a total value of $524,810.16. Following the sale, the vice president now directly owns 1,736 shares of the company’s stock, valued at $524,810.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,518 shares of company stock valued at $18,819,611. 23.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TSLA. Dimensional Fund Advisors LP increased its stake in Tesla by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 98,790 shares of the electric vehicle producer’s stock worth $27,492,000 after purchasing an additional 1,894 shares in the last quarter. Capstone Asset Management Co. grew its stake in shares of Tesla by 7.4% during the 2nd quarter. Capstone Asset Management Co. now owns 3,472 shares of the electric vehicle producer’s stock worth $1,256,000 after acquiring an additional 239 shares in the last quarter. Atria Investments LLC bought a new position in shares of Tesla during the 2nd quarter worth approximately $214,000. Nisa Investment Advisors LLC grew its stake in shares of Tesla by 20.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,200 shares of the electric vehicle producer’s stock worth $3,555,000 after acquiring an additional 1,750 shares in the last quarter. Finally, North Star Investment Management Corp. grew its stake in shares of Tesla by 2.8% during the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after acquiring an additional 9 shares in the last quarter. 56.36% of the stock is owned by institutional investors and hedge funds.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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