Pointe Capital Management LLC Takes Position in Tesla, Inc. $TSLA

Pointe Capital Management LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, Holdings Channel reports. The fund purchased 657 shares of the electric vehicle producer’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the 1st quarter worth approximately $27,000. Chelsea Counsel Co. increased its holdings in 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 acquiring an additional 40 shares in the last quarter. Centennial Bank AR increased its holdings in 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 acquiring an additional 100 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in Tesla in the 2nd quarter worth approximately $29,000. Finally, Compass Wealth Management LLC increased its holdings in Tesla by 360.0% in the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA opened at $468.37 on Tuesday. The business’s 50-day moving average is $412.95 and its two-hundred day moving average is $350.47. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The firm has a market capitalization of $1.56 trillion, a PE ratio of 312.25, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its 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 company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TSLA shares. Mizuho increased their price objective on shares of Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. UBS Group set a $247.00 target price on Tesla in a research report on Monday, October 6th. Evercore ISI increased their target price on Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $390.27.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s 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 owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last ninety days. Company insiders own 19.90% of the company’s stock.

Tesla Company 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.