Tesla’s (TSLA) Neutral Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Tesla (NASDAQ:TSLA) in a report published on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has a $365.00 price objective on the electric vehicle producer’s stock.

Several other brokerages have also recently issued reports on TSLA. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Stifel Nicolaus upped their price objective on shares of Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a report on Monday, January 6th. Wedbush raised their target price on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group boosted their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $313.84.

Tesla Stock Performance

Shares of Tesla stock opened at $389.10 on Wednesday. The company has a 50 day moving average price of $401.04 and a 200 day moving average price of $296.63. The firm has a market capitalization of $1.25 trillion, a P/E ratio of 106.60, a PEG ratio of 8.42 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. Sell-side analysts expect that Tesla will post 2.01 EPS for the current year.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is owned by insiders.

Institutional Trading of Tesla

Several institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in Tesla in the 2nd quarter valued at about $48,000. Clearbridge Investments LLC raised its stake in shares of Tesla by 9.1% in the 2nd quarter. Clearbridge Investments LLC now owns 1,207,779 shares of the electric vehicle producer’s stock valued at $238,995,000 after acquiring an additional 101,114 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Tesla in the 2nd quarter worth approximately $807,000. Creekside Partners purchased a new position in shares of Tesla during the 2nd quarter worth approximately $476,000. Finally, Sanctuary Advisors LLC purchased a new stake in Tesla in the second quarter valued at approximately $45,548,000. Hedge funds and other institutional investors 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.