Abbot Financial Management Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLA – Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,389 shares of the electric vehicle producer’s stock, valued at approximately $288,000.
A number of other hedge funds have also bought and sold shares of TSLA. Lakewood Asset Management LLC acquired a new position in shares of Tesla during the fourth quarter worth approximately $25,000. Alpha Paradigm Partners LLC bought a new stake in Tesla during the third quarter worth approximately $27,000. GW&K Investment Management LLC bought a new stake in Tesla during the first quarter worth approximately $30,000. MayTech Global Investments LLC bought a new position in shares of Tesla in the fourth quarter valued at $30,000. Finally, St. Johns Investment Management Company LLC increased its holdings in shares of Tesla by 451.9% in the first quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock valued at $31,000 after buying an additional 122 shares in the last quarter. 41.87% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
TSLA has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price target on Tesla from $260.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 3rd. Wedbush boosted their price target on shares of Tesla from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, July 20th. Royal Bank of Canada boosted their price target on shares of Tesla from $212.00 to $305.00 in a report on Thursday, June 15th. Barclays cut shares of Tesla from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $220.00 to $260.00 in a report on Wednesday, June 21st. Finally, Jefferies Financial Group boosted their price target on shares of Tesla from $185.00 to $265.00 and gave the company a “hold” rating in a report on Monday, July 10th. Six equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $233.77.
Insider Buying and Selling
In related news, SVP Xiaotong Zhu sold 1,065 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total transaction of $265,845.30. Following the sale, the senior vice president now directly owns 59,540 shares in the company, valued at $14,862,374.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 1,065 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total transaction of $265,845.30. Following the sale, the senior vice president now directly owns 59,540 shares in the company, valued at $14,862,374.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $250.02, for a total transaction of $1,000,080.00. Following the completion of the transaction, the chief financial officer now directly owns 104,504 shares of the company’s stock, valued at approximately $26,128,090.08. The disclosure for this sale can be found here. Insiders have sold a total of 58,315 shares of company stock worth $15,034,135 over the last ninety days. Company insiders own 25.10% of the company’s stock.
Tesla Trading Down 1.2 %
NASDAQ TSLA traded down $2.99 during trading hours on Friday, hitting $248.50. The company’s stock had a trading volume of 118,559,635 shares, compared to its average volume of 109,796,720. The stock has a fifty day moving average of $256.44 and a 200 day moving average of $218.23. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $313.80. The firm has a market capitalization of $788.74 billion, a P/E ratio of 70.40, a PEG ratio of 3.92 and a beta of 2.09. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02.
Tesla (NASDAQ:TSLA – Get Free Report) last posted its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The company had revenue of $24.93 billion for the quarter, compared to analyst estimates of $24.22 billion. During the same period last year, the business posted $0.65 earnings per share. The business’s revenue for the quarter was up 47.2% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.
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. It 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, retail merchandise, and vehicle insurance services.
- Five stocks we like better than Tesla
- Health Care Stocks Explained: Why You Might Want to Invest
- MarketBeat Week in Review – 9/4 – 9/8
- The How And Why of Investing in Oil Stocks
- The Best 5 Small Cap AI Companies to Buy Now
- What Is Dividend Yield and How Do You Calculate It?
- Miso Robotics Stock: Is an IPO Coming Soon?
Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.