Tesla (NASDAQ:TSLA) Receives “Overweight” Rating from Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports. They presently have a $425.00 target price on the electric vehicle producer’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 61.55% from the stock’s current price.

Several other brokerages also recently weighed in on TSLA. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Morgan Stanley reduced their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Wells Fargo & Company reduced their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Benchmark assumed coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target on the stock. Finally, New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a report on Monday, January 6th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $317.75.

Tesla Stock Down 7.0 %

Shares of Tesla stock traded down $19.68 on Thursday, reaching $263.08. The company’s stock had a trading volume of 40,205,696 shares, compared to its average volume of 93,842,626. The company has a market capitalization of $846.19 billion, a price-to-earnings ratio of 129.60, a P/E/G ratio of 5.86 and a beta of 2.50. The firm’s fifty day simple moving average is $312.22 and its two-hundred day simple moving average is $323.20. Tesla has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts anticipate that Tesla will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Franchise Capital Ltd boosted its position in Tesla by 20.0% during the first quarter. Franchise Capital Ltd now owns 12,815 shares of the electric vehicle producer’s stock worth $3,321,000 after purchasing an additional 2,135 shares during the period. Park National Corp OH grew its stake in Tesla by 5.7% during the first quarter. Park National Corp OH now owns 2,086 shares of the electric vehicle producer’s stock valued at $541,000 after acquiring an additional 113 shares in the last quarter. Waller Financial Planning Group Inc. boosted its stake in Tesla by 24.6% during the first quarter. Waller Financial Planning Group Inc. now owns 1,103 shares of the electric vehicle producer’s stock valued at $286,000 after buying an additional 218 shares during the period. Marcum Wealth LLC lifted its position in Tesla by 11.8% during the first quarter. Marcum Wealth LLC now owns 8,235 shares of the electric vehicle producer’s stock valued at $2,134,000 after purchasing an additional 868 shares during the last quarter. Finally, Global Wealth Strategies & Associates boosted its holdings in Tesla by 24.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 1,407 shares of the electric vehicle producer’s stock valued at $365,000 after acquiring an additional 277 shares during the period. 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.