Cantor Fitzgerald Reaffirms Neutral Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday, MarketBeat reports. They currently have a $245.00 price objective on the electric vehicle producer’s stock. Cantor Fitzgerald’s target price indicates a potential downside of 5.94% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. KGI Securities reissued a “neutral” rating and issued a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Barclays dropped their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Finally, Mizuho upped their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $218.18.

Tesla Stock Up 21.9 %

Shares of NASDAQ TSLA opened at $260.48 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla has a 52 week low of $138.80 and a 52 week high of $271.00. The stock has a market capitalization of $832.14 billion, a P/E ratio of 73.17, a PEG ratio of 6.24 and a beta of 2.29. The stock’s fifty day moving average is $228.54 and its 200 day moving average is $206.41.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the company earned $0.53 EPS. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that Tesla will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Large investors have recently modified their holdings of the company. Bank & Trust Co purchased a new stake in Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter valued at $26,000. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Clean Yield Group boosted its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the period. Finally, M&R Capital Management Inc. grew its holdings in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.