Sage Capital Advisors llc Boosts Stake in Tesla, Inc. $TSLA

Sage Capital Advisors llc raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,169 shares of the electric vehicle producer’s stock after purchasing an additional 143 shares during the quarter. Sage Capital Advisors llc’s holdings in Tesla were worth $371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC lifted its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank lifted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Pacific Center for Financial Services lifted its holdings in Tesla by 1,616.7% in the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer’s stock worth $42,000 after acquiring an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the first quarter worth about $27,000. Finally, Newton One Investments LLC lifted its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Benchmark restated a “buy” rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Canaccord Genuity Group raised their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Wedbush reiterated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $303.00.

Tesla Trading Up 7.4%

Shares of NASDAQ:TSLA opened at $395.94 on Friday. The company has a 50 day moving average price of $328.89 and a 200 day moving average price of $303.48. 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 quick ratio of 1.55 and a current ratio of 2.04. The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a PEG ratio of 12.87 and a beta of 2.06.

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

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction 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 of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,606 shares of company stock valued at $51,999,662 in the last quarter. Company insiders own 20.70% of the company’s stock.

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.