Tesla (NASDAQ:TSLA) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Monday, Benzinga reports. They currently have a $245.00 price target on the electric vehicle producer’s stock.

Several other equities analysts have also recently issued reports on TSLA. China Renaissance raised shares of Tesla from a hold rating to a buy rating and set a $290.00 price objective on the stock in a research note on Friday, July 5th. Piper Sandler reaffirmed an overweight rating and issued a $300.00 price target on shares of Tesla in a report on Monday, August 19th. Roth Mkm reissued a neutral rating and set a $85.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Stifel Nicolaus initiated coverage on Tesla in a research report on Tuesday, June 25th. They set a buy rating and a $265.00 target price on the stock. Finally, Oppenheimer reiterated a market perform rating on shares of Tesla in a research report on Tuesday, July 9th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $209.03.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $228.13 on Monday. The stock has a market cap of $728.79 billion, a price-to-earnings ratio of 58.20, a PEG ratio of 5.57 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla has a 12 month low of $138.80 and a 12 month high of $278.98. The stock’s 50 day moving average price is $224.13 and its 200 day moving average price is $194.20.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. Equities research analysts anticipate that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank & Trust Co bought a new position in Tesla during the second quarter worth $25,000. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter worth about $26,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla during the fourth quarter valued at about $37,000. Finally, Guardian Wealth Management Inc. bought a new stake in shares of Tesla in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.