Tesla (NASDAQ:TSLA) Research Coverage Started at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald started coverage on shares of Tesla (NASDAQ:TSLA) in a research report issued on Thursday, Briefing.com reports. The firm set an “overweight” rating and a $230.00 price target on the electric vehicle producer’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 27.78% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. Mizuho dropped their target price on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a report on Wednesday, April 24th. Daiwa Capital Markets lowered shares of Tesla from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Finally, Evercore ISI reduced their target price on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $185.90.

Tesla Stock Performance

Shares of TSLA stock opened at $179.99 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla has a one year low of $138.80 and a one year high of $299.29. The business’s 50 day simple moving average is $174.41 and its 200 day simple moving average is $206.11. The stock has a market capitalization of $574.02 billion, a PE ratio of 45.92, a PEG ratio of 4.98 and a beta of 2.40.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 in the last 90 days. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently bought and sold shares of TSLA. Wyrmwood Management LLC bought a new position in Tesla in the 4th quarter worth about $25,000. Lam Group Inc. bought a new position in shares of Tesla in the fourth quarter worth approximately $25,000. Mendota Financial Group LLC lifted its position in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla in the 4th quarter worth $37,000. Finally, Kathleen S. Wright Associates Inc. lifted its holdings in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

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.