Tesla (NASDAQ:TSLA) Receives Overweight Rating from Cantor Fitzgerald

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

Several other equities research analysts have also issued reports on the stock. Roth Mkm reiterated a neutral rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. Citigroup reiterated a neutral rating on shares of Tesla in a research report on Wednesday, June 12th. The Goldman Sachs Group reissued a neutral rating and issued a $175.00 target price on shares of Tesla in a research note on Friday, June 14th. Canaccord Genuity Group dropped their price target on Tesla from $234.00 to $222.00 and set a buy rating for the company in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada reduced their price objective on Tesla from $293.00 to $227.00 and set an outperform rating on the stock in a research report on Thursday, June 20th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $182.68.

Tesla Trading Down 0.2 %

Tesla stock opened at $182.58 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The stock has a market cap of $582.28 billion, a P/E ratio of 46.58, a PEG ratio of 4.50 and a beta of 2.32. The firm’s fifty day moving average price is $174.41 and its 200-day moving average price is $192.65.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Equities research analysts forecast that Tesla will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock worth $19,285,643 over the last 90 days. 25.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Apexium Financial LP boosted its holdings in Tesla by 736.8% in the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after acquiring an additional 21,972 shares in the last quarter. Mount Vernon Associates Inc. MD raised its holdings in Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after buying an additional 350 shares during the last quarter. Forum Financial Management LP lifted its stake in shares of Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after buying an additional 3,582 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after buying an additional 6,615 shares during the last quarter. Finally, Catalyst Financial Partners LLC increased its position in shares of Tesla by 9.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after acquiring an additional 598 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.