Tesla (NASDAQ:TSLA) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Tesla (NASDAQ:TSLA) in a report published on Thursday morning, Marketbeat reports. The brokerage issued an overweight rating and a $230.00 price objective on the electric vehicle producer’s stock.

Several other analysts have also recently issued reports on the company. Needham & Company LLC reiterated a hold rating on shares of Tesla in a research note on Wednesday, April 24th. Guggenheim reaffirmed a sell rating and issued a $122.00 price target on shares of Tesla in a research report on Tuesday, April 23rd. Oppenheimer reissued a market perform rating on shares of Tesla in a research report on Wednesday, April 24th. Wells Fargo & Company reduced their target price on shares of Tesla from $125.00 to $120.00 and set an underweight rating on the stock in a report on Friday, April 12th. Finally, Canaccord Genuity Group lowered their price target on shares of Tesla from $267.00 to $234.00 and set a buy rating for the company in a report on Thursday, January 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $185.90.

Tesla Stock Up 0.7 %

Shares of TSLA stock traded up $1.18 during trading on Thursday, reaching $181.19. The company’s stock had a trading volume of 75,491,539 shares, compared to its average volume of 112,969,304. The company has a market capitalization of $577.85 billion, a price-to-earnings ratio of 46.22, a P/E/G ratio of 4.71 and a beta of 2.41. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock’s 50-day moving average price is $173.85 and its 200 day moving average price is $205.42.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 in the last ninety days. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently bought and sold shares of the stock. Wyrmwood Management LLC purchased a new position in Tesla in the fourth quarter valued at approximately $25,000. Lam Group Inc. acquired a new position in shares of Tesla during the 4th quarter valued at $25,000. Mendota Financial Group LLC boosted its position in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. OLD Point Trust & Financial Services N A purchased a new position in Tesla in the fourth quarter valued at about $37,000. Finally, Kathleen S. Wright Associates Inc. lifted its stake in shares of Tesla by 111.1% during 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. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

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.