Tesla’s (TSLA) Neutral Rating Reiterated at Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reiterated by investment analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $245.00 price objective on the electric vehicle producer’s stock. Cantor Fitzgerald’s price objective points to a potential downside of 5.05% from the company’s previous close.

TSLA has been the topic of a number of other reports. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Guggenheim increased their target price on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 target price on shares of Tesla in a report on Friday, September 13th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $209.90.

Tesla Stock Down 1.4 %

Shares of NASDAQ:TSLA opened at $258.02 on Monday. The stock’s 50-day moving average price is $222.33 and its 200-day moving average price is $200.24. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla has a 12-month low of $138.80 and a 12-month high of $271.00. The stock has a market capitalization of $824.28 billion, a P/E ratio of 65.82, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29.

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

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

A number of large investors have recently modified their holdings of TSLA. Bank & Trust Co purchased a new position in shares of Tesla in the second quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla in the fourth quarter worth about $37,000. Finally, Kessler Investment Group LLC lifted its holdings in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the period. Hedge funds and other 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.