Cantor Fitzgerald Reiterates “Overweight” Rating for Tesla (NASDAQ:TSLA)

by · The Cerbat Gem

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a research report issued on Wednesday,Benzinga reports. They presently have a $510.00 price objective on the electric vehicle producer’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 30.17% from the company’s previous close.

A number of other brokerages have also recently issued reports on TSLA. William Blair restated a “market perform” rating on shares of Tesla in a report on Friday, January 2nd. Royal Bank Of Canada reduced their target price on Tesla from $500.00 to $480.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Tesla in a report on Wednesday. China Renaissance lifted their price objective on Tesla from $380.00 to $382.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Finally, UBS Group upgraded Tesla from a “sell” rating to a “neutral” rating and set a $352.00 price objective on the stock in a report on Tuesday, April 14th. Eighteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $397.26.

View Our Latest Research Report on Tesla

Tesla Trading Up 1.4%

TSLA stock traded up $5.36 during midday trading on Wednesday, reaching $391.78. The stock had a trading volume of 10,412,073 shares, compared to its average volume of 62,485,090. The company has a quick ratio of 1.77, a current ratio of 2.16 and a debt-to-equity ratio of 0.08. Tesla has a twelve month low of $244.43 and a twelve month high of $498.83. The firm has a market cap of $1.47 trillion, a price-to-earnings ratio of 362.31, a PEG ratio of 12.41 and a beta of 1.91. The business has a fifty day simple moving average of $388.44 and a two-hundred day simple moving average of $421.86.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The firm had revenue of $24.90 billion for the quarter, compared to analysts’ expectations of $24.75 billion. During the same quarter last year, the business earned $0.73 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. As a group, research analysts expect that Tesla will post 1.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,264 shares of Tesla stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $397.03, for a total value of $898,875.92. Following the sale, the chief financial officer owned 18,106 shares of the company’s stock, valued at approximately $7,188,625.18. This trade represents a 11.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of Tesla stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $359.33, for a total value of $9,273,947.97. Following the completion of the sale, the director directly owned 33,860 shares in the company, valued at approximately $12,166,913.80. This represents a 43.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 53,804 shares of company stock worth $20,865,598. 19.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Tesla during the 4th quarter worth approximately $17,128,100,000. Corient Private Wealth LLC increased its position in shares of Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock worth $9,650,811,000 after purchasing an additional 20,810,386 shares during the last quarter. Bank of America Corp DE increased its position in shares of Tesla by 56.0% during the 4th quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer’s stock worth $9,334,211,000 after purchasing an additional 7,450,766 shares during the last quarter. Cardano Risk Management B.V. increased its position in shares of Tesla by 882.8% during the 4th quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock worth $3,688,630,000 after purchasing an additional 7,367,507 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Tesla by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after purchasing an additional 6,538,720 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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