Cutler Investment Counsel LLC Boosts Position in Tesla, Inc. $TSLA

Cutler Investment Counsel LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 14.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,220 shares of the electric vehicle producer’s stock after purchasing an additional 288 shares during the quarter. Cutler Investment Counsel LLC’s holdings in Tesla were worth $705,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Means Investment CO. Inc. increased its holdings in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Siren L.L.C. purchased a new position in shares of Tesla during the 1st quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC increased its holdings in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares in the last quarter. Keystone Global Partners LLC purchased a new position in shares of Tesla during the 1st quarter valued at approximately $594,000. Finally, Strs Ohio purchased a new position in shares of Tesla during the 1st quarter valued at approximately $205,495,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Tesla stock opened at $429.24 on Wednesday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 248.12, a PEG ratio of 15.71 and a beta of 2.08. The company has a fifty day simple moving average of $380.91 and a 200-day simple moving average of $330.17. 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:TSLAGet Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) 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 business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the previous year, the company earned $0.52 EPS. Tesla’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSLA shares. Melius Research set a $520.00 target price on shares of Tesla and gave the company a “buy” rating in a report on Monday. CICC Research boosted their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. JPMorgan Chase & Co. boosted their price target on shares of Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $355.00 price target on shares of Tesla in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $363.03.

View Our Latest Analysis on TSLA

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last 90 days. 19.90% of the stock is currently owned by corporate insiders.

About Tesla

(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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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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