Tesla’s (TSLA) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research report report published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $230.00 price target on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. Mizuho cut their price objective on shares of Tesla from $195.00 to $180.00 and set a neutral rating for the company in a report on Wednesday, April 24th. The Goldman Sachs Group reaffirmed a neutral rating and set a $175.00 price objective on shares of Tesla in a report on Friday, June 14th. Wells Fargo & Company reaffirmed an underweight rating and set a $120.00 price objective on shares of Tesla in a report on Monday. Stifel Nicolaus initiated coverage on shares of Tesla in a report on Tuesday, June 25th. They set a buy rating and a $265.00 price objective for the company. Finally, Royal Bank of Canada cut their price objective on shares of Tesla from $293.00 to $227.00 and set an outperform rating for the company in a report on Thursday, June 20th. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $189.47.

Tesla Price Performance

NASDAQ TSLA opened at $246.39 on Monday. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29. The stock has a market cap of $785.79 billion, a price-to-earnings ratio of 62.85, a PEG ratio of 5.74 and a beta of 2.31. The company’s 50 day moving average is $182.57 and its two-hundred day moving average is $191.32. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. As a group, research analysts anticipate that Tesla will post 1.86 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla 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 completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Glenmede Trust Co. NA raised its holdings in shares of Tesla by 3.5% in the third quarter. Glenmede Trust Co. NA now owns 38,224 shares of the electric vehicle producer’s stock valued at $9,564,000 after acquiring an additional 1,303 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Tesla by 27.8% in the third quarter. Evergreen Capital Management LLC now owns 33,132 shares of the electric vehicle producer’s stock valued at $8,290,000 after acquiring an additional 7,217 shares in the last quarter. Elevatus Welath Management raised its holdings in Tesla by 99.5% in the third quarter. Elevatus Welath Management now owns 2,502 shares of the electric vehicle producer’s stock worth $626,000 after purchasing an additional 1,248 shares in the last quarter. Legacy Advisors LLC raised its holdings in Tesla by 39.4% in the third quarter. Legacy Advisors LLC now owns 12,718 shares of the electric vehicle producer’s stock worth $3,182,000 after purchasing an additional 3,593 shares in the last quarter. Finally, Lakeshore Financial Planning Inc. bought a new position in Tesla in the third quarter worth about $231,000. 66.20% of the stock is currently owned by institutional investors.

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.