MA Private Wealth Takes $476,000 Position in Tesla, Inc. $TSLA

MA Private Wealth bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,499 shares of the electric vehicle producer’s stock, valued at approximately $476,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC increased its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank increased its stake in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC increased its stake in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Tesla in the 1st quarter worth about $27,000. Finally, Chelsea Counsel Co. increased its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $355.00 price target on shares of Tesla in a research note on Friday, October 3rd. UBS Group set a $247.00 price target on shares of Tesla in a research note on Monday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Finally, Piper Sandler increased their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $354.67.

Tesla Stock Down 5.1%

Shares of Tesla stock opened at $413.49 on Friday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a PEG ratio of 15.81 and a beta of 2.08. 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’s 50-day moving average is $375.97 and its two-hundred day moving average is $327.51.

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

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla 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.