Tesla (NASDAQ:TSLA) Earns Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Tesla (NASDAQ:TSLA) in a research report released on Friday morning, Benzinga reports. The firm currently has a $245.00 price objective on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. Wedbush restated an outperform rating and set a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $123.00 to $136.00 and gave the stock a hold rating in a report on Thursday, April 25th. Bank of America upgraded Tesla from a neutral rating to a buy rating and set a $220.00 target price on the stock in a research note on Wednesday, April 24th. The Goldman Sachs Group lowered their price target on Tesla from $248.00 to $230.00 and set a neutral rating on the stock in a report on Wednesday, July 24th. Finally, UBS Group lowered Tesla from a neutral rating to a sell rating and boosted their target price for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $204.21.

Tesla Price Performance

TSLA stock opened at $216.12 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market capitalization of $689.25 billion, a price-to-earnings ratio of 55.13, a PEG ratio of 5.22 and a beta of 2.31. The firm has a 50 day moving average price of $215.14 and a 200-day moving average price of $190.99. Tesla has a 52-week low of $138.80 and a 52-week high of $278.98.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Tesla will post 1.79 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s 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 transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Institutional Trading of Tesla

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares during the last quarter. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter valued at $7,844,757,000. Charles Schwab Investment Management Inc. boosted its position in shares of Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after purchasing an additional 458,804 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its position in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. Hedge funds and other institutional investors 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.