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

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

Several other analysts have also recently commented on the company. Robert W. Baird raised their target price on Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Royal Bank of Canada lifted their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a report on Monday, January 6th. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. Finally, Guggenheim upped their price objective on shares of Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research note on Thursday, December 5th. Eight analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $318.31.

Tesla Trading Up 2.9 %

NASDAQ:TSLA opened at $400.28 on Wednesday. The stock has a fifty day simple moving average of $401.98 and a 200 day simple moving average of $297.28. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 109.67, a price-to-earnings-growth 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. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 net margin of 13.07% and a return on equity of 10.24%. Sell-side analysts forecast that Tesla will post 2.01 earnings per share for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 553,386 shares of company stock valued at $196,305,796. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after purchasing an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during 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.