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

Cantor Fitzgerald reaffirmed their neutral rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $245.00 target price on the electric vehicle producer’s stock.

A number of other equities analysts also recently issued reports on TSLA. Guggenheim upped their price target on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday, September 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $230.00 price objective on shares of Tesla in a report on Friday, October 11th. Finally, Argus reissued a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $211.63.

Tesla Trading Down 2.0 %

Shares of NASDAQ:TSLA opened at $213.65 on Wednesday. The company has a market cap of $682.53 billion, a PE ratio of 60.01, a P/E/G ratio of 6.24 and a beta of 2.29. The company’s 50 day moving average is $228.54 and its two-hundred day moving average is $206.41. Tesla has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results 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). The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. Equities analysts predict that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla 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 transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were 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 $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

A number of large investors have recently made changes to their positions in TSLA. Bank & Trust Co acquired a new stake in shares of Tesla during the 2nd quarter worth about $25,000. Clean Yield Group boosted its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake 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 worth $26,000 after acquiring an additional 81 shares during the period. Valley Wealth Managers Inc. acquired a new position in Tesla in the 2nd quarter valued at $26,000. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds 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.