Cantor Fitzgerald Boosts Tesla (NASDAQ:TSLA) Price Target to $365.00

Tesla (NASDAQ:TSLA - Free Report) had its target price hoisted by Cantor Fitzgerald from $255.00 to $365.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the electric vehicle producer's stock.

Several other research analysts also recently issued reports on the company. Truist Financial lifted their price objective on Tesla from $236.00 to $238.00 and gave the stock a "hold" rating in a research report on Thursday, October 24th. Guggenheim increased their price objective on Tesla from $156.00 to $175.00 and gave the company a "sell" rating in a research note on Thursday, December 5th. Robert W. Baird reiterated an "outperform" rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Wolfe Research assumed coverage on shares of Tesla in a research note on Thursday, September 5th. They set a "peer perform" rating on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an "outperform" rating in a research report on Friday, November 15th. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $254.48.

Tesla Price Performance

Shares of TSLA stock traded up $11.20 during midday trading on Tuesday, reaching $400.99. 97,358,234 shares of the company traded hands, compared to its average volume of 94,721,867. The firm's 50 day simple moving average is $288.09 and its two-hundred day simple moving average is $240.67. The firm has a market cap of $1.29 trillion, a PE ratio of 109.86, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla has a 1-year low of $138.80 and a 1-year high of $409.73.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the firm earned $0.53 EPS. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that Tesla will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the firm's stock in a transaction on 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 completion of the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 522,886 shares of company stock worth $171,393,831 over the last ninety days. 20.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TSLA. Valley Wealth Managers Inc. acquired a new position in Tesla during the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC increased its stake in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter worth approximately $29,000. Clean Yield Group lifted its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after purchasing an additional 48 shares during the period. Finally, Peterson Financial Group Inc. bought a new position in Tesla during the 3rd quarter valued at $35,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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.