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

Tesla (NASDAQ:TSLA - Get Free Report)'s stock had its "neutral" rating reissued by equities researchers at Cantor Fitzgerald in a report released on Wednesday, Benzinga reports. They presently have a $245.00 price objective on the electric vehicle producer's stock. Cantor Fitzgerald's price objective would indicate a potential upside of 14.67% from the company's current price.

A number of other research analysts have also weighed in on the stock. William Blair began coverage on shares of Tesla in a research report on Thursday, August 29th. They set an "outperform" rating on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $254.00 price target on shares of Tesla in a research report on Friday, September 13th. The Goldman Sachs Group reissued a "neutral" rating and set a $230.00 price target on shares of Tesla in a research report on Friday, October 11th. Wedbush reissued an "outperform" rating and set a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Finally, Guggenheim raised their price objective on shares of Tesla from $134.00 to $153.00 and gave the stock a "sell" rating in a report on Friday, September 13th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $211.63.

Tesla Stock Down 2.0 %

Shares of Tesla stock traded down $4.32 during trading hours on Wednesday, reaching $213.65. The company's stock had a trading volume of 78,218,790 shares, compared to its average volume of 93,775,086. Tesla has a one year low of $138.80 and a one year high of $271.00. The company has a market capitalization of $681.37 billion, a P/E ratio of 54.49, a P/E/G ratio of 6.31 and a beta of 2.29. The stock's fifty day simple moving average is $228.30 and its two-hundred day simple moving average is $206.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly 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 net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts forecast that Tesla will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the business's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business's stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 over the last three months. 25.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC increased its position in Tesla by 16.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 21,559 shares of the electric vehicle producer's stock valued at $5,641,000 after purchasing an additional 3,017 shares during the period. Strategic Investment Solutions Inc. IL grew its position in shares of Tesla by 19.1% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 4,858 shares of the electric vehicle producer's stock worth $1,271,000 after buying an additional 778 shares during the period. Hudock Inc. purchased a new stake in shares of Tesla in the 3rd quarter worth about $247,000. Financial Management Network Inc. grew its position in shares of Tesla by 11.1% in the 3rd quarter. Financial Management Network Inc. now owns 10,393 shares of the electric vehicle producer's stock worth $2,599,000 after buying an additional 1,041 shares during the period. Finally, MA Private Wealth purchased a new stake in shares of Tesla in the 3rd quarter worth about $235,000. 66.20% of the stock is currently 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.