Tesla’s (TSLA) “Neutral” Rating Reaffirmed at Cantor Fitzgerald

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

TSLA has been the topic of a number of other research reports. Robert W. Baird reaffirmed an outperform rating and issued a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Guggenheim boosted their price target on Tesla from $134.00 to $153.00 and gave the stock a sell rating in a research report on Friday, September 13th. Royal Bank of Canada lowered their price target on Tesla from $227.00 to $224.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. KGI Securities reissued a neutral rating and set a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group reissued a buy rating and set a $254.00 price target on shares of Tesla in a research report on Friday, September 13th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of Hold and a consensus target price of $209.60.

Tesla Price Performance

NASDAQ:TSLA opened at $250.00 on Monday. 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 stock’s 50-day simple moving average is $221.24 and its 200 day simple moving average is $196.58. The company has a market cap of $797.30 billion, a P/E ratio of 63.78, a P/E/G ratio of 6.00 and a beta of 2.29. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. As a group, sell-side analysts forecast that Tesla will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other 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 transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TSLA. Clean Energy Transition LLP increased its holdings in shares of Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. Vanguard Group Inc. increased its holdings in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after purchasing an additional 1,479,378 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. 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.