Citigroup Inc. assumed coverage on shares of Tesla Inc. (NASDAQ:TSLA) in a research report sent to investors on Thursday, July 20th, MarketBeat reports. The firm issued a neutral rating and a $357.00 price target on the electric vehicle producer’s stock.
TSLA has been the topic of several other research reports. Bank of America Corporation lowered their price objective on shares of Tesla from $170.00 to $165.00 and set an underperform rating on the stock in a research note on Wednesday, April 26th. Morgan Stanley restated an overweight rating and set a $305.00 target price on shares of Tesla in a research note on Saturday, March 25th. Guggenheim raised their target price on shares of Tesla from $320.00 to $380.00 and gave the stock a buy rating in a research note on Monday, May 15th. Goldman Sachs Group, Inc. (The) restated a sell rating on shares of Tesla in a research note on Thursday, April 6th. Finally, Royal Bank Of Canada restated a sector perform rating and set a $314.00 target price on shares of Tesla in a research note on Thursday, May 25th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $309.65.
Shares of Tesla (NASDAQ:TSLA) opened at 363.53 on Thursday. Tesla has a one year low of $178.19 and a one year high of $386.99. The company’s 50 day moving average price is $342.44 and its 200 day moving average price is $305.94. The stock’s market capitalization is $60.06 billion.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.67. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.06) EPS. On average, analysts expect that Tesla will post ($6.23) earnings per share for the current fiscal year.
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In other news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total transaction of $703,778.40. Following the completion of the transaction, the director now directly owns 160,274 shares in the company, valued at approximately $51,505,652.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 23.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in TSLA. Winfield Associates Inc. boosted its position in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after buying an additional 150 shares during the period. Acropolis Investment Management LLC purchased a new position in shares of Tesla during the second quarter worth approximately $122,000. North Star Investment Management Corp. boosted its position in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after buying an additional 9 shares during the period. Carroll Financial Associates Inc. boosted its position in shares of Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after buying an additional 28 shares during the period. Finally, Crestwood Advisors Group LLC purchased a new position in shares of Tesla during the first quarter worth approximately $101,000. Institutional investors own 63.71% of the company’s stock.
Tesla Company Profile
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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