Tesla, Inc. $TSLA Shares Acquired by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,161 shares of the electric vehicle producer’s stock after purchasing an additional 106 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Tesla were worth $369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its holdings in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the last quarter. Bison Wealth LLC increased its position in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its stake in shares of Tesla by 8.9% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 1,894 shares of the electric vehicle producer’s stock worth $491,000 after buying an additional 154 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in shares of Tesla by 10.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 47,885 shares of the electric vehicle producer’s stock worth $12,410,000 after buying an additional 4,485 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

TSLA stock opened at $440.40 on Monday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock’s fifty day simple moving average is $352.05 and its 200-day simple moving average is $315.40. 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 stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 254.57, a price-to-earnings-growth ratio of 15.36 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the business earned $0.52 EPS. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on TSLA. UBS Group restated a “sell” rating on shares of Tesla in a report on Monday, September 22nd. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research report on Friday, September 5th. Morgan Stanley reiterated an “overweight” rating and issued a $410.00 price target on shares of Tesla in a research report on Friday, September 5th. Benchmark reiterated a “buy” rating and issued a $475.00 price target (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $332.33.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 over the last quarter. 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.