Tesla (NASDAQ:TSLA) Earns “Overweight” Rating from Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They currently have a $425.00 target price on the electric vehicle producer’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 77.50% from the stock’s previous close.

A number of other research analysts have also issued reports on TSLA. Royal Bank of Canada dropped their price objective on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Wells Fargo & Company dropped their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $404.00 price objective on shares of Tesla in a research note on Monday, March 17th. Truist Financial raised their target price on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Bank of America reduced their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $312.65.

Tesla Stock Down 10.4 %

Shares of NASDAQ TSLA opened at $239.43 on Thursday. The company has a market cap of $770.13 billion, a price-to-earnings ratio of 117.37, a PEG ratio of 5.86 and a beta of 2.58. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a 50-day moving average price of $305.98 and a two-hundred day moving average price of $322.90.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts forecast that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its holdings in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares in the last quarter. United Bank purchased a new stake in shares of Tesla in the third quarter worth about $287,000. Janus Henderson Group PLC boosted its position in shares of Tesla by 4.6% in the third quarter. Janus Henderson Group PLC now owns 444,091 shares of the electric vehicle producer’s stock valued at $116,184,000 after acquiring an additional 19,342 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Tesla during the third quarter valued at approximately $13,516,000. Finally, Mission Creek Capital Partners Inc. grew its position in shares of Tesla by 18.9% during the 3rd quarter. Mission Creek Capital Partners Inc. now owns 2,202 shares of the electric vehicle producer’s stock valued at $576,000 after purchasing an additional 350 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.