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

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research note issued to investors on Friday,Benzinga reports. They currently have a $355.00 price target on the electric vehicle producer’s stock. Cantor Fitzgerald’s target price would suggest a potential downside of 17.41% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $320.00 to $548.00 in a report on Friday, September 19th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Mizuho upped their target price on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. Finally, UBS Group restated a “sell” rating and issued a $215.00 price target on shares of Tesla in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $343.43.

Tesla Stock Down 1.4%

Shares of TSLA opened at $429.83 on Friday. The business’s fifty day moving average price is $364.02 and its two-hundred day moving average price is $321.99. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 248.46, a PEG ratio of 14.93 and a beta of 2.08. Tesla has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. On average, analysts predict that Tesla will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 over the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC raised its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank raised its stake in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares during the period. Chapman Financial Group LLC acquired a new stake in Tesla during the 2nd quarter valued at $26,000. Newton One Investments LLC boosted its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares during the period. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of Tesla in the first quarter valued at $27,000. 66.20% of the stock is owned by institutional investors.

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.