Tesla’s (TSLA) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research note released on Friday,Benzinga reports. The brokerage currently has a $355.00 target price on the electric vehicle producer’s stock.

A number of other equities analysts have also recently weighed in on TSLA. Glj Research reissued a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. HSBC upped their price objective on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Finally, Stifel Nicolaus set a $440.00 price objective on shares of Tesla in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $343.43.

Tesla Stock Down 1.4%

Shares of Tesla stock opened at $429.83 on Friday. The company has a fifty day moving average price of $364.02 and a 200 day moving average price of $321.39. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.46, a price-to-earnings-growth ratio of 15.15 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period last year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts forecast that Tesla will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 over the last quarter. Insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of large investors have recently bought and sold shares of TSLA. Brighton Jones LLC increased its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC increased its stake in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of Tesla by 3.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,605 shares of the electric vehicle producer’s stock valued at $1,193,000 after purchasing an additional 165 shares during the period. Finally, Beacon Financial Group increased its stake in shares of Tesla by 28.4% in the first quarter. Beacon Financial Group now owns 2,173 shares of the electric vehicle producer’s stock valued at $563,000 after purchasing an additional 480 shares during the period. 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.