Tesla (NASDAQ:TSLA) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Monday, MarketBeat reports. They currently have a $230.00 price objective on the electric vehicle producer’s stock.

Other research analysts have also recently issued reports about the stock. New Street Research reissued a buy rating and set a $235.00 price objective on shares of Tesla in a report on Tuesday, June 25th. Morgan Stanley reissued an overweight rating and set a $310.00 price target on shares of Tesla in a report on Thursday, July 18th. Citigroup lifted their price objective on Tesla from $182.00 to $274.00 and gave the stock a neutral rating in a report on Friday, July 12th. Bank of America raised Tesla from a neutral rating to a buy rating and set a $220.00 target price on the stock in a report on Wednesday, April 24th. Finally, Truist Financial restated a hold rating and set a $162.00 price target on shares of Tesla in a research note on Wednesday, July 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of Hold and a consensus price target of $201.18.

Tesla Stock Performance

Tesla stock opened at $215.99 on Monday. Tesla has a twelve month low of $138.80 and a twelve month high of $278.98. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $688.84 billion, a P/E ratio of 55.10, a PEG ratio of 6.28 and a beta of 2.31. The stock’s 50 day moving average is $203.92 and its 200 day moving average is $191.17.

Tesla (NASDAQ:TSLA) last issued 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 13.18% and a net margin of 14.37%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the firm posted $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Tesla will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction 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 sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several large investors have recently added to or reduced their stakes in the stock. Waypoint Wealth Partners Inc. boosted its position in shares of Tesla by 4.5% in the second quarter. Waypoint Wealth Partners Inc. now owns 1,628 shares of the electric vehicle producer’s stock worth $322,000 after buying an additional 70 shares during the period. Beacon Capital Management LLC lifted its position in Tesla by 35.4% during the 2nd quarter. Beacon Capital Management LLC now owns 11,212 shares of the electric vehicle producer’s stock worth $2,219,000 after acquiring an additional 2,931 shares in the last quarter. Atlantic Union Bankshares Corp boosted its holdings in Tesla by 0.7% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 13,649 shares of the electric vehicle producer’s stock worth $2,701,000 after acquiring an additional 93 shares during the period. McAdam LLC raised its stake in shares of Tesla by 5.5% during the second quarter. McAdam LLC now owns 7,132 shares of the electric vehicle producer’s stock valued at $1,411,000 after purchasing an additional 369 shares during the period. Finally, LRI Investments LLC lifted its position in shares of Tesla by 217.4% during the second quarter. LRI Investments LLC now owns 1,809 shares of the electric vehicle producer’s stock worth $358,000 after purchasing an additional 1,239 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.