Townsend Asset Management Corp NC ADV Makes New $200,000 Investment in Tesla, Inc. $TSLA

Townsend Asset Management Corp NC ADV purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, HoldingsChannel.com reports. The fund purchased 631 shares of the electric vehicle producer’s stock, valued at approximately $200,000.

Other institutional investors also recently modified their holdings of the company. Means Investment CO. Inc. boosted its stake in 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 buying an additional 6,323 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after acquiring an additional 670 shares in the last quarter. Siren L.L.C. acquired a new position in shares of Tesla in the first quarter worth about $2,332,000. Zuckerman Investment Group LLC grew its stake in shares of Tesla by 6.9% in 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 buying an additional 826 shares during the period. Finally, Keystone Global Partners LLC purchased a new position in shares of Tesla in the 1st quarter valued at about $594,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 4.0%

TSLA stock opened at $440.40 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. The business has a fifty day moving average of $352.05 and a 200-day moving average of $314.88. The company has a market cap of $1.46 trillion, a P/E ratio of 254.57, a PEG ratio of 15.36 and a beta of 2.06. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last issued 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). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSLA. HSBC reaffirmed a “reduce” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Royal Bank Of Canada reiterated a “buy” rating on shares of Tesla in a research report on Friday. Glj Research reaffirmed a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Guggenheim reiterated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Finally, CICC Research boosted their price objective on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $332.33.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is currently owned by insiders.

Tesla 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.