Tesla (NASDAQ:TSLA) Stock Rating Reaffirmed by Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They presently have a $245.00 price objective on the electric vehicle producer’s stock. Cantor Fitzgerald’s target price would suggest a potential downside of 5.05% from the stock’s previous close.

Several other research firms also recently commented on TSLA. Truist Financial reiterated a “hold” rating and issued a $215.00 price objective on shares of Tesla in a report on Wednesday, August 14th. TD Cowen boosted their price target on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, September 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $209.90.

Tesla Stock Performance

NASDAQ TSLA opened at $258.02 on Monday. The firm’s fifty day moving average price is $222.33 and its two-hundred day moving average price is $200.24. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00. The firm has a market capitalization of $824.28 billion, a P/E ratio of 65.82, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. As a group, research analysts anticipate that Tesla will post 1.75 EPS for the current year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 over the last quarter. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently bought and sold shares of TSLA. Bank & Trust Co bought a new stake in Tesla during the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla during the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in Tesla in the 4th quarter worth approximately $37,000. Finally, Kessler Investment Group LLC increased its holdings in shares of Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 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.