Townsend Asset Management Corp NC ADV Invests $200,000 in Tesla, Inc. $TSLA

Townsend Asset Management Corp NC ADV bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the second quarter, HoldingsChannel reports. The institutional investor bought 631 shares of the electric vehicle producer’s stock, valued at approximately $200,000.

A number of other large investors also recently bought and sold shares of TSLA. John W. Brooker & Co. CPAs acquired a new stake in shares of Tesla during the 2nd quarter worth about $630,000. ORG Wealth Partners LLC raised its stake in Tesla by 46.6% in the 2nd quarter. ORG Wealth Partners LLC now owns 7,029 shares of the electric vehicle producer’s stock valued at $2,115,000 after acquiring an additional 2,234 shares during the period. Brown Lisle Cummings Inc. grew its holdings in Tesla by 41.7% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 5,505 shares of the electric vehicle producer’s stock worth $1,749,000 after acquiring an additional 1,620 shares during the last quarter. West Branch Capital LLC boosted its holdings in Tesla by 13.2% during the 2nd quarter. West Branch Capital LLC now owns 10,054 shares of the electric vehicle producer’s stock worth $3,194,000 after acquiring an additional 1,171 shares during the last quarter. Finally, Advisors Management Group Inc. ADV increased its holdings in Tesla by 8.8% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 1,906 shares of the electric vehicle producer’s stock worth $605,000 after acquiring an additional 154 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TSLA shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research note on Friday. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. The Goldman Sachs Group increased their target price on shares of Tesla from $300.00 to $395.00 and gave the company a “neutral” rating in a research report on Thursday, September 18th. Dbs Bank boosted their price target on shares of Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Finally, Wedbush increased their price objective on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $332.33.

Tesla Price Performance

NASDAQ:TSLA opened at $440.40 on Friday. The company has a 50 day moving average price of $352.05 and a 200-day moving average price of $314.88. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 254.57, a price-to-earnings-growth ratio of 15.36 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The company’s revenue was down 11.8% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock valued at $77,360,462 over the last three months. 19.90% of the stock is currently owned by corporate insiders.

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.