Cantor Fitzgerald Initiates Coverage on Tesla (NASDAQ:TSLA)

Cantor Fitzgerald initiated coverage on shares of Tesla (NASDAQ:TSLA) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $230.00 price target on the electric vehicle producer’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 26.94% from the company’s previous close.

Other research analysts also recently issued reports about the company. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Wednesday, April 24th. Barclays decreased their price target on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Royal Bank of Canada cut their price objective on Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, China Renaissance started coverage on Tesla in a research report on Monday, February 26th. They issued a “hold” rating for the company. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $185.90.

Tesla Stock Up 0.7 %

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

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mount Vernon Associates Inc. MD raised its stake in Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after buying an additional 350 shares during the period. Oak Ridge Investments LLC increased its holdings in Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after purchasing an additional 1,405 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after purchasing an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after purchasing an additional 6,615 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Tesla by 11.8% during the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after purchasing an additional 81,729 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.