Tesla (NASDAQ:TSLA) Receives Neutral Rating from Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reissued by analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $245.00 price objective on the electric vehicle producer’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 7.78% from the company’s current price.

A number of other research analysts have also recently weighed in on TSLA. Royal Bank of Canada dropped their price objective on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a research report on Wednesday, July 24th. Guggenheim boosted their target price on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday. Finally, William Blair assumed coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $209.60.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $2.97 during midday trading on Monday, reaching $227.32. 40,633,656 shares of the company’s stock traded hands, compared to its average volume of 96,499,992. The company has a fifty day simple moving average of $223.37 and a two-hundred day simple moving average of $194.57. Tesla has a 1 year low of $138.80 and a 1 year high of $273.93. The company has a market cap of $724.97 billion, a P/E ratio of 57.79, a PEG ratio of 6.08 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

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

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated 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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’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 completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several large investors have recently modified their holdings of the stock. Atalanta Sosnoff Capital LLC grew its holdings in shares of Tesla by 3.7% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after buying an additional 6,575 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after acquiring an additional 1,943 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Tesla in the 1st quarter valued at about $1,941,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Tesla in the first quarter worth approximately $79,000. Finally, Public Employees Retirement System of Ohio grew its position in Tesla by 0.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock valued at $351,166,000 after purchasing an additional 6,034 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

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.