Tesla (NASDAQ:TSLA) Receives New Coverage from Analysts at Cantor Fitzgerald

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

Other equities analysts also recently issued reports about the stock. Morgan Stanley reduced their price objective on shares of Tesla from $320.00 to $310.00 and set an overweight rating for the company in a report on Thursday, April 4th. Evercore ISI lowered their price objective on Tesla from $155.00 to $145.00 and set an in-line rating on the stock in a research note on Monday. The Goldman Sachs Group decreased their price target on Tesla from $190.00 to $175.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Roth Mkm reissued a neutral rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Tesla from $130.00 to $115.00 and set an underweight rating on the stock in a report on Wednesday, April 3rd. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $185.90.

Tesla Stock Performance

TSLA stock traded up $0.02 during midday trading on Thursday, hitting $180.01. The stock had a trading volume of 88,368,478 shares, compared to its average volume of 105,028,250. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a 50-day simple moving average of $174.07 and a 200 day simple moving average of $205.92. The firm has a market capitalization of $574.09 billion, a price-to-earnings ratio of 45.92, a P/E/G ratio of 4.98 and a beta of 2.40.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now 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 is available through this link. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on 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 owns 15,000 shares of the company's stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on 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 sale, the senior vice president now directly owns 31,230 shares of the company's stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,098 shares of company stock worth $38,802,534. Company insiders own 25.10% of the company's stock.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bailard Inc. increased its stake in Tesla by 27.1% in the 3rd quarter. Bailard Inc. now owns 6,878 shares of the electric vehicle producer's stock valued at $1,721,000 after buying an additional 1,465 shares during the last quarter. Bouchey Financial Group Ltd boosted its position in Tesla by 6.4% during the third quarter. Bouchey Financial Group Ltd now owns 2,546 shares of the electric vehicle producer's stock valued at $637,000 after purchasing an additional 153 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in Tesla by 1.5% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 867,300 shares of the electric vehicle producer's stock valued at $217,016,000 after purchasing an additional 12,400 shares in the last quarter. Gradient Capital Advisors LLC raised its stake in shares of Tesla by 0.3% during the 3rd quarter. Gradient Capital Advisors LLC now owns 29,288 shares of the electric vehicle producer's stock worth $7,328,000 after purchasing an additional 83 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. boosted its holdings in shares of Tesla by 3.0% in the 3rd quarter. Guyasuta Investment Advisors Inc. now owns 6,670 shares of the electric vehicle producer's stock valued at $1,669,000 after buying an additional 195 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.