B&D White Capital Company LLC Takes Position in Tesla, Inc. $TSLA

B&D White Capital Company LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,638 shares of the electric vehicle producer’s stock, valued at approximately $425,000.

A number of other institutional investors also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC boosted its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank boosted its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC boosted its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla during the first quarter valued at about $27,000. Finally, True Wealth Design LLC boosted its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 6.2%

Tesla stock opened at $340.01 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54. The company has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 196.54, a price-to-earnings-growth ratio of 11.13 and a beta of 2.33. The stock has a 50-day moving average price of $321.27 and a 200 day moving average price of $303.60.

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

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares of the company’s stock, valued at $664,989. This represents a 75.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 599,724 shares of company stock valued at $213,126,501. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Benchmark reissued a “buy” rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. William Blair downgraded Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, July 7th. Bank of America raised their price target on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Royal Bank Of Canada reissued an “overweight” rating on shares of Tesla in a report on Tuesday, July 29th. Finally, China Renaissance reissued a “hold” rating and issued a $349.00 price target on shares of Tesla in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $303.31.

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.