Tesla (NASDAQ:TSLA) Stock Rating Lowered by Cantor Fitzgerald

Tesla (NASDAQ:TSLA) was downgraded by equities researchers at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research note issued on Wednesday, MarketBeat reports. They presently have a $245.00 price objective on the electric vehicle producer’s stock, up from their prior price objective of $230.00. Cantor Fitzgerald’s price objective indicates a potential upside of 11.24% from the stock’s previous close.

A number of other research firms have also commented on TSLA. Royal Bank of Canada reduced their price target on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. JPMorgan Chase & Co. decreased their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and raised their price target for the company from $147.00 to $197.00 in a research report on Friday, July 12th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research note on Friday, July 5th. Finally, Mizuho raised their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $201.75.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $220.25 on Wednesday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The business has a fifty day moving average price of $204.83 and a two-hundred day moving average price of $191.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a market capitalization of $702.42 billion, a PE ratio of 56.19, a P/E/G ratio of 6.15 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.68% and a net margin of 13.00%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.78 EPS. As a group, equities analysts predict that Tesla will post 1.85 earnings per share for the current fiscal year.

Insider Activity at Tesla

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

Institutional Investors Weigh In On Tesla

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. Norges Bank purchased a new stake in shares of Tesla in the fourth quarter worth $7,844,757,000. Charles Schwab Investment Management Inc. grew its position in Tesla by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after purchasing an additional 458,804 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares in the last quarter. Institutional investors 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.