Sweeney & Michel LLC Purchases 307 Shares of Tesla, Inc. $TSLA

Sweeney & Michel LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,234 shares of the electric vehicle producer’s stock after acquiring an additional 307 shares during the quarter. Sweeney & Michel LLC’s holdings in Tesla were worth $1,014,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Means Investment CO. Inc. grew its stake in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. grew its position in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after purchasing an additional 670 shares in the last quarter. Siren L.L.C. bought a new position in shares of Tesla during the 1st quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC grew its position in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares during the period. Finally, Keystone Global Partners LLC purchased a new stake in shares of Tesla during the 1st quarter valued at approximately $594,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s 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 completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. Company insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on TSLA shares. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday. Bank of America increased their target price on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. HSBC reissued a “reduce” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research report on Friday, September 5th. Finally, Guggenheim reissued a “sell” rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $317.70.

Tesla Price Performance

TSLA stock opened at $426.07 on Monday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $340.68 and a two-hundred day simple moving average of $308.67. The firm has a market capitalization of $1.42 trillion, a P/E ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 2.56 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. 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.