W.G. Shaheen & Associates DBA Whitney & Co Buys 358 Shares of Tesla, Inc. $TSLA

W.G. Shaheen & Associates DBA Whitney & Co grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,309 shares of the electric vehicle producer’s stock after acquiring an additional 358 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Tesla were worth $2,957,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Telos Capital Management Inc. raised its stake in shares of Tesla by 1.4% in the second quarter. Telos Capital Management Inc. now owns 4,778 shares of the electric vehicle producer’s stock worth $1,518,000 after purchasing an additional 68 shares during the last quarter. Sigma Planning Corp raised its stake in shares of Tesla by 99.1% in the second quarter. Sigma Planning Corp now owns 52,883 shares of the electric vehicle producer’s stock worth $16,799,000 after purchasing an additional 26,318 shares during the last quarter. State of Michigan Retirement System raised its stake in shares of Tesla by 0.4% in the second quarter. State of Michigan Retirement System now owns 761,957 shares of the electric vehicle producer’s stock worth $242,043,000 after purchasing an additional 2,800 shares during the last quarter. iA Global Asset Management Inc. raised its stake in shares of Tesla by 2.2% in the second quarter. iA Global Asset Management Inc. now owns 186,117 shares of the electric vehicle producer’s stock worth $59,122,000 after purchasing an additional 4,014 shares during the last quarter. Finally, Redwood Wealth Management Group LLC raised its stake in shares of Tesla by 4.6% in the second quarter. Redwood Wealth Management Group LLC now owns 4,936 shares of the electric vehicle producer’s stock worth $1,568,000 after purchasing an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Mizuho boosted their price target on Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Industrial Alliance Securities set a $300.00 price target on Tesla in a research note on Monday, October 13th. Bank of America upped their price objective on Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. President Capital upped their price objective on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Roth Capital set a $505.00 price objective on Tesla and gave the company a “buy” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and eleven 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 $390.27.

Tesla Stock Performance

NASDAQ:TSLA opened at $456.56 on Monday. The stock has a 50-day simple moving average of $410.52 and a two-hundred day simple moving average of $348.87. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market capitalization of $1.52 trillion, a PE ratio of 304.37, a P/E/G ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Tesla’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

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.