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

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

Other equities research analysts have also recently issued reports about the company. Piper Sandler reissued an “overweight” rating and issued a $300.00 price objective on shares of Tesla in a research report on Monday, August 19th. Citigroup decreased their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Wedbush restated an “outperform” rating and set a $300.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Stock Down 1.3 %

NASDAQ TSLA traded down $2.97 during trading on Monday, hitting $227.32. 40,633,656 shares of the company traded hands, compared to its average volume of 96,499,992. The business has a fifty day simple moving average of $223.37 and a 200 day simple moving average of $194.57. Tesla has a 12 month low of $138.80 and a 12 month high of $273.93. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $724.97 billion, a P/E ratio of 57.79, a PEG ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 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 period in the prior year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on 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 owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of large investors have recently made changes to their positions in TSLA. DDFG Inc grew its position in Tesla by 7.1% in the fourth quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock worth $265,000 after acquiring an additional 71 shares in the last quarter. Vantage Financial Partners LLC increased its position in shares of Tesla by 6.4% during the 4th quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock valued at $1,432,000 after purchasing an additional 346 shares during the last quarter. Gilbert & Cook Inc. lifted its position in Tesla by 8.7% in the 4th quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock worth $3,357,000 after buying an additional 1,086 shares during the last quarter. 9258 Wealth Management LLC boosted its stake in Tesla by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock worth $1,532,000 after buying an additional 69 shares in the last quarter. Finally, Rollins Financial grew its holdings in shares of Tesla by 10.2% during the 4th quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock valued at $29,921,000 after purchasing an additional 11,191 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

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.