Tesla (NASDAQ:TSLA) Given “Neutral” Rating at Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reiterated by stock analysts at Cantor Fitzgerald in a report issued on Wednesday,Benzinga reports. They presently have a $365.00 price target on the electric vehicle producer’s stock. Cantor Fitzgerald’s price target would indicate a potential downside of 7.04% from the stock’s previous close.

Several other brokerages have also recently weighed in on TSLA. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Morgan Stanley raised their target price on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $313.84.

Tesla Price Performance

Tesla stock traded down $5.45 during mid-day trading on Wednesday, hitting $392.64. 7,344,119 shares of the company were exchanged, compared to its average volume of 70,294,367. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $401.04 and a 200 day moving average of $296.63. The company has a market capitalization of $1.26 trillion, a PE ratio of 107.70, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % 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 company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock valued at $212,451,751 over the last 90 days. 20.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently modified their holdings of the business. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the third quarter valued at approximately $29,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the 3rd quarter worth $35,000. M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Finally, Finley Financial LLC bought a new stake in Tesla during the fourth quarter worth about $64,000. 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.