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

Cantor Fitzgerald reaffirmed their neutral rating on shares of Tesla (NASDAQ:TSLA) in a report released on Monday morning, Benzinga reports. They currently have a $245.00 target price on the electric vehicle producer’s stock.

A number of other equities analysts have also issued reports on TSLA. China Renaissance raised Tesla from a hold rating to a buy rating and set a $290.00 price target for the company in a research report on Friday, July 5th. New Street Research downgraded Tesla from a buy rating to a neutral rating and set a $225.00 target price for the company. in a report on Wednesday, July 24th. Sanford C. Bernstein reiterated an underperform rating and issued a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Argus restated a buy rating and set a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Finally, Robert W. Baird reiterated an outperform rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $209.90.

Tesla Stock Performance

Shares of TSLA stock opened at $254.22 on Monday. Tesla has a 12-month low of $138.80 and a 12-month high of $271.00. The business’s fifty day simple moving average is $221.37 and its 200-day simple moving average is $197.56. 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 cap of $812.14 billion, a PE ratio of 64.85, a PEG ratio of 6.92 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released 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). 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 analysts’ expectations of $24.38 billion. During the same quarter last year, the business posted $0.78 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts expect that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 over the last quarter. 25.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank & Trust Co acquired a new stake in Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla during the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the fourth quarter valued at about $37,000. Finally, Kessler Investment Group LLC increased its position in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares during the last quarter. 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.