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

Cantor Fitzgerald reiterated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $230.00 price objective on the electric vehicle producer’s stock.

TSLA has been the topic of several other reports. Sanford C. Bernstein restated an underperform rating and set a $120.00 price objective on shares of Tesla in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $123.00 to $136.00 and gave the stock a hold rating in a research note on Thursday, April 25th. Needham & Company LLC reiterated a hold rating on shares of Tesla in a research note on Wednesday, April 24th. Wedbush reiterated an outperform rating and set a $275.00 target price on shares of Tesla in a research note on Friday, June 14th. Finally, Piper Sandler reiterated an overweight rating and set a $205.00 target price on shares of Tesla in a research note on Monday, April 22nd. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $189.47.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $246.39 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $180.89 and its two-hundred day simple moving average is $190.93. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The stock has a market cap of $785.79 billion, a PE ratio of 62.85, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. As a group, analysts forecast that Tesla will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the company. Apexium Financial LP boosted its stake in Tesla by 736.8% in the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after buying an additional 21,972 shares in the last quarter. Mount Vernon Associates Inc. MD boosted its stake in Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after buying an additional 350 shares in the last quarter. Forum Financial Management LP boosted its stake in Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after buying an additional 3,582 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after buying an additional 6,615 shares in the last quarter. Finally, Catalyst Financial Partners LLC boosted its stake in Tesla by 9.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after buying an additional 598 shares in the last quarter. Hedge funds and other 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.