Carmel Capital Partners LLC Purchases 1,579 Shares of Tesla, Inc. $TSLA

Carmel Capital Partners LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 15.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,104 shares of the electric vehicle producer’s stock after acquiring an additional 1,579 shares during the period. Tesla accounts for 1.3% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 14th biggest position. Carmel Capital Partners LLC’s holdings in Tesla were worth $3,845,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% in the 1st 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 lifted its position in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the 1st quarter worth about $27,000. Chelsea Counsel Co. lifted its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the period. Finally, Centennial Bank AR lifted its position in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after purchasing an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 2.5%

NASDAQ:TSLA opened at $439.31 on Friday. The firm has a market cap of $1.46 trillion, a P/E ratio of 253.94, a P/E/G ratio of 15.41 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm has a 50-day simple moving average of $387.54 and a two-hundred day simple moving average of $333.25.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TSLA. TD Cowen raised their target price on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. UBS Group set a $247.00 price target on shares of Tesla in a research note on Monday, October 6th. Evercore ISI increased their price target on shares of Tesla from $235.00 to $300.00 and gave the stock an “in-line” rating in a research note on Monday, October 13th. Finally, China Renaissance reiterated a “hold” rating and issued a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $363.54.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’s 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 completion of the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is currently owned by company insiders.

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.