Tesla (NASDAQ:TSLA) Earns “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $245.00 price objective on the electric vehicle producer’s stock.

Several other equities analysts also recently issued reports on the stock. Roth Mkm restated a neutral rating and issued a $85.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Piper Sandler restated an overweight rating and set a $300.00 price target on shares of Tesla in a research note on Monday, August 19th. Wells Fargo & Company reiterated an underweight rating and issued a $120.00 price objective on shares of Tesla in a research note on Monday, July 1st. Citigroup decreased their price objective on Tesla from $274.00 to $258.00 and set a neutral rating for the company in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group cut their target price on shares of Tesla from $248.00 to $230.00 and set a neutral rating on the stock in a report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of Hold and an average target price of $209.90.

Tesla Trading Down 1.1 %

NASDAQ TSLA opened at $254.22 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market cap of $812.14 billion, a price-to-earnings ratio of 64.85, a PEG ratio of 6.92 and a beta of 2.29. The firm has a 50 day simple moving average of $221.37 and a 200-day simple moving average of $197.56. Tesla has a one year low of $138.80 and a one year high of $271.00.

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

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’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 of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 in the last quarter. 25.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. ARK Investment Management LLC lifted its holdings in Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after purchasing an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after purchasing an additional 412,872 shares during the period. 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.