Tesla (NASDAQ:TSLA) Given “Neutral” Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Monday, Benzinga reports. Cantor Fitzgerald currently has a $245.00 price target on the electric vehicle producer’s stock.

Several other research firms have also commented on TSLA. Morgan Stanley reiterated an overweight rating and issued a $310.00 price target on shares of Tesla in a research report on Thursday, September 5th. KGI Securities reiterated a neutral rating and issued a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. Roth Mkm reiterated a neutral rating and issued a $85.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Guggenheim increased their price target on shares of Tesla from $134.00 to $153.00 and gave the company a sell rating in a research report on Friday, September 13th. Finally, Wedbush restated an outperform rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $209.60.

Tesla Trading Down 0.3 %

Shares of Tesla stock opened at $227.20 on Monday. Tesla has a 12-month low of $138.80 and a 12-month high of $273.93. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market cap of $725.82 billion, a PE ratio of 57.96, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29. The company has a 50-day moving average of $221.44 and a two-hundred day moving average of $195.15.

Tesla (NASDAQ:TSLA) last issued its earnings results 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). The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.78 earnings per share. On average, research analysts anticipate that Tesla will post 1.75 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clean Energy Transition LLP grew its holdings in Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after acquiring an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings 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 worth $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after acquiring an additional 1,402,443 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the period. 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.