Tesla (NASDAQ:TSLA) Given Overweight Rating at Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They presently have a $425.00 price target on the electric vehicle producer’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 77.50% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Monday, February 10th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Piper Sandler dropped their target price on Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Finally, StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $312.65.

Tesla Price Performance

TSLA opened at $239.43 on Thursday. The stock has a 50-day moving average price of $305.98 and a 200-day moving average price of $322.90. The stock has a market capitalization of $770.13 billion, a P/E ratio of 117.37, a PEG ratio of 5.86 and a beta of 2.58. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. Equities analysts predict that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 over the last 90 days. Insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of large investors have recently bought and sold shares of TSLA. Webster Bank N. A. grew its holdings in Tesla by 4.1% in the first quarter. Webster Bank N. A. now owns 9,745 shares of the electric vehicle producer’s stock valued at $2,526,000 after purchasing an additional 384 shares during the period. Kings Path Partners LLC purchased a new position in shares of Tesla during the 1st quarter valued at approximately $285,000. Farmers Trust Co. grew its stake in Tesla by 10.8% in the 1st quarter. Farmers Trust Co. now owns 1,249 shares of the electric vehicle producer’s stock valued at $324,000 after acquiring an additional 122 shares during the period. Sage Capital Advisors llc increased its holdings in Tesla by 17.8% in the 1st quarter. Sage Capital Advisors llc now owns 1,026 shares of the electric vehicle producer’s stock worth $266,000 after acquiring an additional 155 shares in the last quarter. Finally, Moody National Bank Trust Division raised its position in Tesla by 0.8% during the first quarter. Moody National Bank Trust Division now owns 24,932 shares of the electric vehicle producer’s stock worth $6,461,000 after acquiring an additional 206 shares during the period. Institutional investors and hedge funds 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.