Tesla (NASDAQ:TSLA) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Tesla (NASDAQ:TSLA - Free Report) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $425.00 target price on the electric vehicle producer's stock.

A number of other equities analysts have also weighed in on the stock. UBS Group decreased their price objective on shares of Tesla from $259.00 to $225.00 and set a "sell" rating for the company in a report on Monday, March 10th. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and boosted their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Cowen raised Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Wells Fargo & Company lowered their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Finally, Mizuho reduced their price target on shares of Tesla from $515.00 to $430.00 and set an "outperform" rating for the company in a research note on Monday, March 17th. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $312.65.

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Tesla Stock Down 5.5 %

NASDAQ:TSLA traded down $15.48 during trading hours on Thursday, reaching $267.28. 135,622,518 shares of the company traded hands, compared to its average volume of 94,232,488. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The business's 50-day moving average price is $309.32 and its two-hundred day moving average price is $322.81. Tesla has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a market capitalization of $859.71 billion, a P/E ratio of 131.02, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts predict that Tesla will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares of the company's stock, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 477,228 shares of company stock valued at $166,849,043. Insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TSLA. Principal Financial Group Inc. increased its position in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after acquiring an additional 194,796 shares during the last quarter. United Bank bought a new position in Tesla during the 3rd quarter valued at about $287,000. Janus Henderson Group PLC raised its position in Tesla by 4.6% in the 3rd quarter. Janus Henderson Group PLC now owns 444,091 shares of the electric vehicle producer's stock worth $116,184,000 after purchasing an additional 19,342 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Tesla in the third quarter worth about $13,516,000. Finally, Mission Creek Capital Partners Inc. boosted its position in shares of Tesla by 18.9% during the third quarter. Mission Creek Capital Partners Inc. now owns 2,202 shares of the electric vehicle producer's stock valued at $576,000 after buying an additional 350 shares during the period. Institutional investors own 66.20% of the company's stock.

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.