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

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

A number of other analysts have also issued reports on TSLA. New Street Research lowered Tesla from a buy rating to a neutral rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. Argus reissued a buy rating and issued a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Truist Financial reissued a hold rating and issued a $215.00 target price on shares of Tesla in a research report on Wednesday, August 14th. Needham & Company LLC reissued a hold rating on shares of Tesla in a research report on Wednesday, July 24th. Finally, Robert W. Baird reissued an outperform rating and issued a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of Hold and an average target price of $209.60.

Tesla Stock Down 0.3 %

TSLA stock opened at $227.20 on Monday. The firm has a market cap of $725.82 billion, a PE ratio of 57.96, a PEG ratio of 6.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm’s 50 day moving average price is $221.44 and its 200-day moving average price is $195.15. Tesla has a one year low of $138.80 and a one year high of $273.93.

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 the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. On average, equities research analysts anticipate that Tesla will post 1.75 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently made changes to their positions in the business. Atalanta Sosnoff Capital LLC raised its holdings in Tesla by 3.7% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock worth $45,546,000 after purchasing an additional 6,575 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Tesla by 7.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after purchasing an additional 1,943 shares in the last quarter. Entropy Technologies LP purchased a new position in Tesla during the first quarter worth about $1,941,000. Future Financial Wealth Managment LLC purchased a new position in Tesla during the first quarter worth about $79,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Tesla by 0.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock worth $351,166,000 after purchasing an additional 6,034 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.