Tesla (NASDAQ:TSLA) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm issued an overweight rating and a $230.00 price objective on the electric vehicle producer’s stock.

TSLA has been the subject of several other reports. Morgan Stanley reduced their price objective on Tesla from $320.00 to $310.00 and set an overweight rating for the company in a research report on Thursday, April 4th. Wedbush reaffirmed an outperform rating and set a $275.00 price objective on shares of Tesla in a research report on Monday, April 29th. The Goldman Sachs Group decreased their target price on Tesla from $190.00 to $175.00 and set a neutral rating on the stock in a research report on Tuesday, April 9th. Citigroup raised their price objective on Tesla from $180.00 to $182.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. Finally, KGI Securities restated a neutral rating and set a $213.00 price objective (down from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $185.90.

Tesla Trading Up 0.7 %

Shares of NASDAQ:TSLA opened at $181.19 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The stock’s 50-day moving average is $173.85 and its 200-day moving average is $204.81. The company has a market cap of $577.85 billion, a P/E ratio of 46.22, a P/E/G ratio of 4.74 and a beta of 2.41. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently bought and sold shares of TSLA. Norges Bank bought a new stake in Tesla during the fourth quarter valued at $7,844,757,000. International Assets Investment Management LLC raised its stake in shares of Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the period. California Public Employees Retirement System raised its stake in Tesla by 34.0% in the third quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after buying an additional 2,293,344 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.