Tesla’s (TSLA) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $425.00 price objective on the electric vehicle producer’s stock.

A number of other research analysts also recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, February 10th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Oppenheimer restated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, Stifel Nicolaus cut their target price on shares of Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $312.65.

Tesla Stock Performance

Shares of TSLA stock opened at $239.43 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company’s fifty day moving average price is $305.98 and its two-hundred day moving average price is $323.56. The firm has a market capitalization of $770.13 billion, a P/E ratio of 117.37, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 in the last three months. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several large investors have recently made changes to their positions in TSLA. True Wealth Design LLC increased its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its position in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. lifted its stake in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC acquired a new position in Tesla during the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla during the 4th quarter worth approximately $38,000. 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.