Tesla, Inc. $TSLA Shares Acquired by Monument Capital Management

Monument Capital Management boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 29.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,082 shares of the electric vehicle producer’s stock after purchasing an additional 249 shares during the period. Monument Capital Management’s holdings in Tesla were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC grew its position in 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 buying an additional 44 shares during the period. First PREMIER Bank grew its position in 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 buying an additional 42 shares during the period. Newton One Investments LLC grew its position in 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 buying an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Tesla during the first quarter worth about $27,000. Finally, Chelsea Counsel Co. grew its position in 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 buying an additional 40 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on TSLA shares. 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, September 26th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a research report on Wednesday. Finally, Royal Bank Of Canada increased their price target on shares of Tesla from $325.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $354.67.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $413.49 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 company has a market cap of $1.37 trillion, a P/E ratio of 239.01, a P/E/G ratio of 15.01 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm’s 50 day moving average is $375.97 and its two-hundred day moving average is $327.89.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 company 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 business earned $0.52 EPS. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.