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

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating restated by 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 indicates a potential upside of 61.55% from the stock’s current price.

TSLA has been the topic of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Canaccord Genuity Group reissued a “buy” rating and issued a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Truist Financial lifted their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Morgan Stanley dropped their price objective on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Finally, Evercore ISI raised their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $317.75.

Tesla Stock Down 7.0 %

TSLA stock traded down $19.68 during trading hours on Thursday, hitting $263.08. The company’s stock had a trading volume of 40,205,696 shares, compared to its average volume of 93,842,626. The stock has a 50 day moving average price of $312.22 and a two-hundred day moving average price of $323.20. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a market capitalization of $846.19 billion, a PE ratio of 129.60, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. On average, equities research analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several large investors have recently made changes to their positions in TSLA. Franchise Capital Ltd increased its position in shares of Tesla by 20.0% during the first quarter. Franchise Capital Ltd now owns 12,815 shares of the electric vehicle producer’s stock worth $3,321,000 after acquiring an additional 2,135 shares in the last quarter. Park National Corp OH grew its stake in Tesla by 5.7% in the 1st quarter. Park National Corp OH now owns 2,086 shares of the electric vehicle producer’s stock valued at $541,000 after buying an additional 113 shares in the last quarter. Waller Financial Planning Group Inc. raised its stake in shares of Tesla by 24.6% during the 1st quarter. Waller Financial Planning Group Inc. now owns 1,103 shares of the electric vehicle producer’s stock valued at $286,000 after purchasing an additional 218 shares during the period. Marcum Wealth LLC increased its holdings in Tesla by 11.8% during the 1st quarter. Marcum Wealth LLC now owns 8,235 shares of the electric vehicle producer’s stock worth $2,134,000 after acquiring an additional 868 shares during the period. Finally, Global Wealth Strategies & Associates increased its stake in Tesla by 24.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 1,407 shares of the electric vehicle producer’s stock worth $365,000 after acquiring an additional 277 shares during the last quarter. 66.20% of the stock is currently 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.