Cantor Fitzgerald Begins Coverage on Tesla (NASDAQ:TSLA)

Cantor Fitzgerald started coverage on shares of Tesla (NASDAQ:TSLA) in a research note released on Thursday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $230.00 target price on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other research reports. Canaccord Genuity Group decreased their target price on shares of Tesla from $234.00 to $222.00 and set a buy rating on the stock in a research report on Wednesday, April 24th. KGI Securities reaffirmed a neutral rating and issued a $213.00 price objective (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Sanford C. Bernstein reduced their target price on Tesla from $150.00 to $120.00 and set an underperform rating on the stock in a report on Tuesday, March 26th. Morgan Stanley dropped their price target on Tesla from $320.00 to $310.00 and set an overweight rating for the company in a research note on Thursday, April 4th. Finally, TD Cowen reduced their price objective on shares of Tesla from $200.00 to $180.00 and set a market perform rating on the stock in a research note on Thursday, January 25th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $185.90.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $181.19 on Thursday. The firm has a market cap of $577.85 billion, a P/E ratio of 46.22, a price-to-earnings-growth ratio of 4.74 and a beta of 2.41. The business’s 50 day moving average is $173.85 and its 200-day moving average is $205.42. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 in the last quarter. 25.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wyrmwood Management LLC acquired a new position in Tesla in the fourth quarter valued at $25,000. Lam Group Inc. acquired a new position in shares of Tesla in the 4th quarter valued at about $25,000. Mendota Financial Group LLC boosted its position in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the fourth quarter worth approximately $37,000. Finally, Kathleen S. Wright Associates Inc. increased its holdings in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. 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.