Cantor Fitzgerald Reiterates “Overweight” Rating for Tesla (NASDAQ:TSLA)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research report report published on Wednesday morning, Benzinga reports. Cantor Fitzgerald currently has a $230.00 target price on the electric vehicle producer’s stock.

TSLA has been the subject of several other research reports. Wells Fargo & Company cut their target price on Tesla from $125.00 to $120.00 and set an underweight rating for the company in a research note on Friday, April 12th. Citigroup reaffirmed a neutral rating on shares of Tesla in a research note on Wednesday. China Renaissance assumed coverage on shares of Tesla in a research note on Monday, February 26th. They issued a hold rating on the stock. Morgan Stanley restated an overweight rating and set a $310.00 price target on shares of Tesla in a research report on Wednesday. Finally, Wedbush reissued an outperform rating and set a $275.00 price objective on shares of Tesla in a research note on Monday, April 29th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla has an average rating of Hold and a consensus price target of $185.90.

Tesla Stock Performance

NASDAQ TSLA opened at $178.01 on Wednesday. The firm has a market cap of $567.71 billion, a P/E ratio of 45.41, a price-to-earnings-growth ratio of 4.53 and a beta of 2.32. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $172.90 and its 200-day moving average is $195.33. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Sell-side analysts predict that Tesla will post 1.87 earnings per share for the current year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,855 shares of company stock valued at $19,285,643. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Holderness Investments Co. lifted its holdings in shares of Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares during the last quarter. SCS Capital Management LLC increased its position in Tesla by 0.3% during the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after buying an additional 45 shares in the last quarter. Daymark Wealth Partners LLC raised its stake in Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after buying an additional 45 shares during the last quarter. Cravens & Co Advisors LLC boosted its holdings in Tesla by 1.2% in the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after acquiring an additional 48 shares in the last quarter. Finally, Patten & Patten Inc. TN grew its stake in shares of Tesla by 1.1% in the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after acquiring an additional 48 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other 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.