Loudon Investment Management LLC Acquires Shares of 650 Tesla, Inc. $TSLA

Loudon Investment Management LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 650 shares of the electric vehicle producer’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC grew its holdings in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank raised its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC lifted its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Tesla during the first quarter worth about $27,000. Finally, 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 valued at $28,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock valued at $77,360,462 over the last 90 days. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Wedbush lifted their price objective on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Morgan Stanley reiterated an “overweight” rating and issued a $410.00 price target on shares of Tesla in a research note on Thursday. Stifel Nicolaus set a $440.00 price objective on Tesla in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Finally, Mizuho boosted their target price on Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $341.46.

Tesla Stock Down 5.1%

Tesla stock opened at $436.00 on Friday. The company has a market capitalization of $1.45 trillion, a PE ratio of 252.02, a PEG ratio of 15.97 and a beta of 2.08. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm’s fifty day moving average is $361.74 and its 200 day moving average is $319.98. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results 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 return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.