Maple Capital Management Inc. Raises Stock Position in Tesla, Inc. $TSLA

Maple Capital Management Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,257 shares of the electric vehicle producer’s stock after buying an additional 142 shares during the quarter. Maple Capital Management Inc.’s holdings in Tesla were worth $1,035,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. LGT Financial Advisors LLC bought a new position in shares of Tesla in the 2nd quarter worth approximately $29,000. Chelsea Counsel Co. grew its stake in Tesla by 59.7% in the first 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. Evergreen Private Wealth LLC raised its holdings in Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares in the last quarter. Glynn Capital Management LLC purchased a new position in Tesla during the second quarter valued at $35,000. Finally, Maseco LLP bought a new stake in shares of Tesla during the 2nd quarter valued at $39,000. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

NASDAQ TSLA opened at $439.62 on Wednesday. The stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 293.08, a PEG ratio of 16.84 and a beta of 2.06. 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 business’s fifty day moving average price is $425.40 and its 200-day moving average price is $358.68.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research note on Thursday, October 23rd. Bank of America upped their price target on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. New Street Research lifted their price objective on Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. UBS Group reissued a “sell” rating on shares of Tesla in a research note on Friday, November 7th. Finally, HSBC lifted their price target on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eleven have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $391.08.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on 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 directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by company insiders.

Tesla 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.