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

Cantor Fitzgerald restated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a report released on Monday, Benzinga reports. The brokerage currently has a $230.00 price target on the electric vehicle producer’s stock.

Several other analysts have also commented on the stock. Citigroup reissued a neutral rating on shares of Tesla in a research report on Wednesday, June 12th. Royal Bank of Canada decreased their price target on shares of Tesla from $293.00 to $227.00 and set an outperform rating for the company in a research report on Thursday, June 20th. Piper Sandler reissued an overweight rating and set a $205.00 price target on shares of Tesla in a research report on Monday, April 22nd. Sanford C. Bernstein reissued an underperform rating and set a $120.00 price target on shares of Tesla in a research report on Monday, June 10th. Finally, The Goldman Sachs Group reissued a neutral rating and set a $175.00 price target on shares of Tesla in a research report on Friday, June 14th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Tesla has a consensus rating of Hold and a consensus price target of $187.30.

Tesla Stock Up 0.5 %

NASDAQ:TSLA opened at $197.42 on Monday. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a 50-day moving average of $175.83 and a 200 day moving average of $192.28. The firm has a market cap of $629.61 billion, a PE ratio of 49.98, a price-to-earnings-growth ratio of 4.65 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. As a group, research analysts anticipate that Tesla will post 1.87 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,855 shares of company stock worth $19,285,643. Corporate insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Lazari Capital Management Inc. raised its holdings in shares of Tesla by 0.6% during the 1st quarter. Lazari Capital Management Inc. now owns 10,604 shares of the electric vehicle producer’s stock worth $1,864,000 after acquiring an additional 60 shares during the period. Keynote Financial Services LLC purchased a new position in shares of Tesla during the 1st quarter worth $412,000. OMC Financial Services LTD purchased a new position in shares of Tesla during the 1st quarter worth $1,068,000. EverSource Wealth Advisors LLC raised its holdings in shares of Tesla by 201.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 53,998 shares of the electric vehicle producer’s stock worth $9,896,000 after acquiring an additional 36,075 shares during the period. Finally, Westwood Holdings Group Inc. increased its position in shares of Tesla by 466.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 15,799 shares of the electric vehicle producer’s stock worth $2,777,000 after purchasing an additional 13,012 shares during the last quarter. Hedge funds and other 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.