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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Monday, Benzinga reports. The firm currently has a $230.00 price target on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other research reports. Roth Mkm restated a neutral rating and issued a $85.00 price target on shares of Tesla in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft upped their price target on Tesla from $123.00 to $136.00 and gave the stock a hold rating in a report on Thursday, April 25th. Royal Bank of Canada reduced their target price on Tesla from $293.00 to $227.00 and set an outperform rating on the stock in a research note on Thursday, June 20th. Wells Fargo & Company reaffirmed an underweight rating and issued a $120.00 target price on shares of Tesla in a research note on Monday. Finally, Piper Sandler reaffirmed an overweight rating and issued a $205.00 target price on shares of Tesla in a research note on Monday, April 22nd. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $187.30.

Tesla Trading Up 6.1 %

NASDAQ:TSLA opened at $209.86 on Monday. The firm has a market cap of $669.29 billion, a PE ratio of 53.54, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31. The stock has a fifty day moving average price of $177.80 and a 200 day moving average price of $191.38. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Sell-side analysts anticipate that Tesla will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

A number of large investors have recently modified their holdings of TSLA. Vanguard Group Inc. lifted its holdings in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares during the period. Norges Bank acquired a new position in Tesla in the fourth quarter valued at approximately $7,844,757,000. Morgan Stanley lifted its holdings in Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after buying an additional 458,804 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.