Cantor Fitzgerald Reaffirms Neutral Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reiterated by investment analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They currently have a $365.00 target price on the electric vehicle producer’s stock. Cantor Fitzgerald’s price target indicates a potential downside of 8.81% from the company’s previous close.

Several other equities analysts have also recently issued reports on TSLA. Canaccord Genuity Group boosted their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wedbush increased their price objective on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and upped their price target for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $318.31.

Tesla Trading Up 2.9 %

Shares of Tesla stock opened at $400.28 on Wednesday. The stock’s 50 day simple moving average is $401.98 and its 200-day simple moving average is $297.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market cap of $1.28 trillion, a P/E ratio of 109.67, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 13.07% and a return on equity of 10.24%. Analysts predict that Tesla will post 2.01 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 553,386 shares of company stock worth $196,305,796 in the last three months. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently made changes to their positions in TSLA. Transcendent Capital Group LLC bought a new position in shares of Tesla in the 3rd quarter worth about $29,000. Clean Yield Group raised its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter worth approximately $35,000. M&R Capital Management Inc. grew its stake in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Tesla in the fourth quarter worth $46,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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.