Country Club Bank Purchases 69 Shares of Tesla, Inc. $TSLA

Country Club Bank grew its position in Tesla, Inc. (NASDAQ:TSLA) by 0.7% in the second quarter, HoldingsChannel.com reports. The firm owned 10,540 shares of the electric vehicle producer’s stock after acquiring an additional 69 shares during the period. Country Club Bank’s holdings in Tesla were worth $3,411,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% during 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 boosted its position in shares of Tesla by 79.2% during 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. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during 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. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the first quarter worth $27,000. Finally, Chelsea Counsel Co. boosted its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TSLA. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. UBS Group set a $247.00 price target on shares of Tesla in a research note on Monday. Finally, China Renaissance reaffirmed a “hold” rating and set a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $344.40.

Tesla Stock Down 4.4%

TSLA stock opened at $433.09 on Wednesday. The firm has a 50 day moving average of $368.81 and a 200 day moving average of $324.77. The stock has a market capitalization of $1.44 trillion, a PE ratio of 250.34, a price-to-earnings-growth ratio of 15.75 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its 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 company had revenue of $22.50 billion during 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%.The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the business earned $0.52 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred 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 transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is 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.