Tesla (NASDAQ:TSLA) Price Target Cut to $258.00 by Analysts at Citigroup

Tesla (NASDAQ:TSLA) had its target price reduced by Citigroup from $274.00 to $258.00 in a report published on Wednesday, Marketbeat Ratings reports. They currently have a neutral rating on the electric vehicle producer’s stock.

A number of other equities research analysts also recently weighed in on TSLA. Canaccord Genuity Group boosted their price objective on shares of Tesla from $222.00 to $254.00 and gave the company a buy rating in a research report on Wednesday, July 3rd. Royal Bank of Canada lowered their price objective on shares of Tesla from $293.00 to $227.00 and set an outperform rating for the company in a research report on Thursday, June 20th. Mizuho boosted their target price on shares of Tesla from $180.00 to $230.00 and gave the company a neutral rating in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $123.00 to $136.00 and gave the company a hold rating in a research note on Thursday, April 25th. Finally, Evercore ISI reduced their target price 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. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of Hold and a consensus price target of $204.30.

Tesla Price Performance

TSLA opened at $219.80 on Wednesday. The company has a 50-day moving average of $205.68 and a 200-day moving average of $191.23. The company has a market capitalization of $702.18 billion, a P/E ratio of 56.07, a PEG ratio of 5.50 and a beta of 2.31. Tesla has a 1-year low of $138.80 and a 1-year high of $278.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.17 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the firm posted $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts expect that Tesla will post 1.85 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

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. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the business’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 sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several large investors have recently added to or reduced their stakes in the business. Kintegral Advisory LLC grew its position in Tesla by 13.4% in the second quarter. Kintegral Advisory LLC now owns 83,366 shares of the electric vehicle producer’s stock worth $16,496,000 after acquiring an additional 9,819 shares in the last quarter. Presidio Capital Management LLC boosted its holdings in shares of Tesla by 3.2% during the 2nd quarter. Presidio Capital Management LLC now owns 5,053 shares of the electric vehicle producer’s stock worth $1,000,000 after buying an additional 156 shares during the period. Whitaker Myers Wealth Managers LTD. boosted its holdings in shares of Tesla by 18.9% during the 2nd quarter. Whitaker Myers Wealth Managers LTD. now owns 5,160 shares of the electric vehicle producer’s stock worth $1,021,000 after buying an additional 820 shares during the period. Beacon Financial Advisory LLC boosted its holdings in shares of Tesla by 3.2% during the 2nd quarter. Beacon Financial Advisory LLC now owns 6,833 shares of the electric vehicle producer’s stock worth $1,352,000 after buying an additional 209 shares during the period. Finally, Aletheian Wealth Advisors LLC boosted its holdings in shares of Tesla by 7.5% during the 2nd quarter. Aletheian Wealth Advisors LLC now owns 5,207 shares of the electric vehicle producer’s stock worth $1,030,000 after buying an additional 365 shares during the period. 66.20% of the stock is owned by institutional investors.

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.