Tesla, Inc. $TSLA Shares Purchased by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,341 shares of the electric vehicle producer’s stock after acquiring an additional 39 shares during the period. Cabot Wealth Management Inc.’s holdings in Tesla were worth $2,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. grew its holdings in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Nuveen LLC acquired a new position in Tesla during the first quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC grew its holdings in Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after acquiring an additional 6,435,598 shares during the period. Amundi grew its holdings in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the 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 transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last quarter. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TSLA. Wedbush reissued an “outperform” rating and issued a $600.00 target price on shares of Tesla in a report on Monday, October 20th. Benchmark reissued a “buy” rating on shares of Tesla in a report on Thursday. New Street Research upped their target price on Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a report on Thursday. TD Cowen upped their target price on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Industrial Alliance Securities set a $300.00 target price on Tesla in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $381.70.

Tesla Stock Down 3.4%

TSLA opened at $433.72 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.44 trillion, a P/E ratio of 289.15, a PEG ratio of 15.59 and a beta of 2.08. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The business’s fifty day simple moving average is $398.06 and its 200 day simple moving average is $340.74.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.