Tesla, Inc. $TSLA Shares Purchased by 1248 Management LLC

by · The Markets Daily

1248 Management LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,311 shares of the electric vehicle producer’s stock after purchasing an additional 195 shares during the period. 1248 Management LLC’s holdings in Tesla were worth $599,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its position in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Pacific Center for Financial Services increased its position in shares of Tesla by 1,616.7% during the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer’s stock worth $42,000 after acquiring an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the first quarter worth about $27,000. Finally, Newton One Investments LLC increased its position in shares of 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 acquiring an additional 75 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TSLA shares. Canaccord Genuity Group lifted their price target on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. HSBC reiterated a “reduce” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Piper Sandler reiterated an “overweight” rating and issued a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. Finally, Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $303.00.

Get Our Latest Stock Analysis on Tesla

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,606 shares of company stock valued at $44,724,662 in the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 6.0%

Tesla stock opened at $368.81 on Friday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a market cap of $1.19 trillion, a price-to-earnings ratio of 213.18, a price-to-earnings-growth ratio of 12.13 and a beta of 2.06. The firm’s 50 day moving average price is $327.25 and its two-hundred day moving average price is $302.84.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Profile

(Free Report)

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.

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