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

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

A number of other equities research analysts have also recently issued reports on the stock. Guggenheim reissued a sell rating and issued a $134.00 price target on shares of Tesla in a research note on Tuesday, July 23rd. Wedbush restated an outperform rating and set a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. KGI Securities reiterated a neutral rating and issued a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. HSBC increased their target price on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Tesla has an average rating of Hold and a consensus target price of $209.03.

Tesla Price Performance

NASDAQ:TSLA opened at $228.13 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a 50 day moving average price of $224.13 and a 200-day moving average price of $194.20. Tesla has a 1-year low of $138.80 and a 1-year high of $278.98. The firm has a market cap of $728.79 billion, a price-to-earnings ratio of 58.20, a price-to-earnings-growth ratio of 5.57 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the company posted $0.78 EPS. The company’s revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Tesla will post 1.75 EPS for the current year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred 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 directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, 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. 25.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

Large investors have recently modified their holdings of the business. Bank & Trust Co purchased a new position in Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Tesla in the fourth quarter valued at approximately $37,000. Finally, Kessler Investment Group LLC boosted its holdings in Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.