Tesla (NASDAQ:TSLA) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Tesla (NASDAQ:TSLA) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday, Marketbeat reports. Cantor Fitzgerald currently has $425.00 target price on the electric vehicle producer’s stock.

Several other brokerages have also weighed in on TSLA. Benchmark began coverage on Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target for the company. Mizuho reduced their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Wells Fargo & Company reduced their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, Bank of America decreased their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $318.93.

Tesla Price Performance

NASDAQ:TSLA opened at $248.71 on Wednesday. The firm’s fifty day moving average is $335.19 and its two-hundred day moving average is $319.68. The firm has a market cap of $799.98 billion, a price-to-earnings ratio of 121.92, a PEG ratio of 5.86 and a beta of 2.50. Tesla has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Research analysts expect that Tesla will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently bought and sold shares of the business. M1 Capital Management LLC acquired a new position in Tesla in the fourth quarter valued at $863,000. Chancellor Financial Group WB LP purchased a new position in shares of Tesla during the fourth quarter worth about $577,000. 111 Capital acquired a new position in Tesla in the 4th quarter valued at about $8,977,000. Thoma Capital Management LLC purchased a new stake in Tesla during the 4th quarter valued at approximately $1,130,000. Finally, NorthCrest Asset Manangement LLC lifted its position in Tesla by 36.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 11,989 shares of the electric vehicle producer’s stock worth $4,842,000 after acquiring an additional 3,224 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.