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

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reaffirmed by Cantor Fitzgerald in a report issued on Thursday, Benzinga reports. They presently have a $245.00 price objective on the electric vehicle producer’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 10.92% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Canaccord Genuity Group increased their price target on Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company restated an “underweight” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Roth Mkm restated a “neutral” rating and set a $85.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Guggenheim reiterated a “sell” rating and issued a $134.00 price objective on shares of Tesla in a research report on Tuesday, July 23rd. Finally, KGI Securities reiterated a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $204.30.

Tesla Price Performance

Shares of TSLA traded down $11.20 during mid-day trading on Thursday, reaching $220.87. The company had a trading volume of 44,583,402 shares, compared to its average volume of 100,763,672. Tesla has a twelve month low of $138.80 and a twelve month high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company’s 50-day moving average is $208.58 and its 200-day moving average is $190.97. The company has a market capitalization of $705.60 billion, a P/E ratio of 56.34, a P/E/G ratio of 5.76 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Tesla will post 1.79 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla 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 sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated 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 sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders have sold 160,719 shares of company stock valued at $32,032,968 in the last 90 days. 25.10% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. DAVENPORT & Co LLC grew its holdings in Tesla by 6.4% during the fourth quarter. DAVENPORT & Co LLC now owns 33,917 shares of the electric vehicle producer’s stock worth $8,428,000 after purchasing an additional 2,039 shares during the period. Leavell Investment Management Inc. grew its holdings in Tesla by 24.7% during the fourth quarter. Leavell Investment Management Inc. now owns 10,122 shares of the electric vehicle producer’s stock worth $2,515,000 after purchasing an additional 2,007 shares during the period. Advisory Alpha LLC grew its holdings in Tesla by 21.6% during the fourth quarter. Advisory Alpha LLC now owns 10,125 shares of the electric vehicle producer’s stock worth $2,516,000 after purchasing an additional 1,800 shares during the period. Walkner Condon Financial Advisors LLC grew its holdings in Tesla by 20.7% during the fourth quarter. Walkner Condon Financial Advisors LLC now owns 2,618 shares of the electric vehicle producer’s stock worth $651,000 after purchasing an additional 449 shares during the period. Finally, Breakwater Capital Group grew its holdings in Tesla by 99.9% during the fourth quarter. Breakwater Capital Group now owns 2,906 shares of the electric vehicle producer’s stock worth $722,000 after purchasing an additional 1,452 shares during the period. Institutional investors and hedge funds 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.