GEM Asset Management LLC Purchases Shares of 747 Tesla, Inc. $TSLA

GEM Asset Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent filing with the SEC. The fund purchased 747 shares of the electric vehicle producer’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its holdings in shares of 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 last quarter. First PREMIER Bank increased its holdings in shares of 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 last quarter. Pacific Center for Financial Services increased its holdings in shares of Tesla by 1,616.7% in the 4th quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer’s stock worth $42,000 after buying an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the 1st quarter worth about $27,000. Finally, Newton One Investments LLC increased its holdings in shares of 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 last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,606 shares of company stock worth $51,999,662. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Tesla stock opened at $410.04 on Tuesday. The stock has a market cap of $1.32 trillion, a price-to-earnings ratio of 237.02, a price-to-earnings-growth ratio of 13.81 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm has a 50-day moving average of $331.21 and a two-hundred day moving average of $304.53.

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). The company had revenue of $22.50 billion during 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%. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $500.00 target price on shares of Tesla in a report on Monday. William Blair reaffirmed a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Glj Research reaffirmed a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Guggenheim reaffirmed a “sell” rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Finally, Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $303.00.

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.