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

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

Other equities analysts also recently issued reports about the company. William Blair started coverage on Tesla in a research note on Thursday, August 29th. They issued an outperform rating for the company. Guggenheim boosted their price target on Tesla from $134.00 to $153.00 and gave the company a sell rating in a report on Friday, September 13th. Piper Sandler reaffirmed an overweight rating and issued a $300.00 price objective on shares of Tesla in a report on Monday, August 19th. Truist Financial reiterated a hold rating and set a $215.00 price objective on shares of Tesla in a research note on Wednesday, August 14th. Finally, Argus restated a buy rating and issued a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Tesla has an average rating of Hold and a consensus target price of $209.60.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $243.92 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $273.93. The business has a 50 day moving average price of $221.50 and a two-hundred day moving average price of $195.49. The firm has a market cap of $779.24 billion, a PE ratio of 62.22, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the business posted $0.78 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’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 completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, 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

A number of institutional investors have recently bought and sold shares of TSLA. Bank & Trust Co purchased a new stake in shares of Tesla in the second quarter worth approximately $25,000. Abich Financial Wealth Management LLC lifted its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla during the 2nd quarter valued at $26,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla during the 4th quarter valued at $37,000. Finally, Guardian Wealth Management Inc. purchased a new stake in shares of Tesla during the fourth quarter worth $47,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.