Tesla (NASDAQ:TSLA) Given “Neutral” Rating at Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reiterated by equities researchers 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 price objective points to a potential upside of 1.26% from the stock’s previous close.

A number of other analysts have also recently commented on TSLA. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Royal Bank of Canada reduced their price objective on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. William Blair assumed coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $209.60.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $241.95 on Monday. The company has a market capitalization of $771.63 billion, a PE ratio of 60.78, a price-to-earnings-growth ratio of 6.00 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. The company’s fifty day moving average price is $221.30 and its 200 day moving average price is $196.08. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00.

Tesla (NASDAQ:TSLA) last posted its earnings results 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. On average, research analysts predict that Tesla will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Hedge funds have recently bought and sold shares of the company. Bank & Trust Co purchased a new position in shares of Tesla in the second quarter valued at approximately $25,000. Abich Financial Wealth Management LLC boosted its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the second quarter worth $26,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla during the fourth quarter worth $37,000. Finally, Guardian Wealth Management Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at $47,000. Institutional investors and hedge funds 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.