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

Cantor Fitzgerald restated their neutral rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Monday, Benzinga reports. Cantor Fitzgerald currently has a $245.00 price objective on the electric vehicle producer’s stock.

Several other research analysts have also commented on TSLA. Citigroup cut their price objective on Tesla from $274.00 to $258.00 and set a neutral rating for the company in a report on Wednesday, July 24th. Glj Research restated a sell rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday, September 26th. Stifel Nicolaus began coverage on shares of Tesla in a research report on Tuesday, June 25th. They issued a buy rating and a $265.00 target price for the company. China Renaissance raised Tesla from a hold rating to a buy rating and set a $290.00 price target for the company in a research note on Friday, July 5th. Finally, Roth Mkm reiterated a neutral rating and set a $85.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $210.54.

Tesla Price Performance

TSLA stock opened at $240.66 on Monday. The firm has a 50 day moving average of $223.40 and a 200-day moving average of $200.86. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $767.51 billion, a P/E ratio of 61.39, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29. Tesla has a 12 month low of $138.80 and a 12 month high of $271.00.

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

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 over the last quarter. 25.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TSLA. Bank & Trust Co bought a new position in shares of Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in Tesla during the 2nd quarter valued at approximately $26,000. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. M&R Capital Management Inc. boosted its holdings in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla in the fourth quarter worth $37,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.