New Hampshire Trust Increases Stake in Tesla, Inc. $TSLA

New Hampshire Trust increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,461 shares of the electric vehicle producer’s stock after buying an additional 83 shares during the period. New Hampshire Trust’s holdings in Tesla were worth $3,323,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its stake in shares of Tesla by 1.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 50,351 shares of the electric vehicle producer’s stock valued at $15,994,000 after buying an additional 648 shares during the period. Prudent Man Advisors LLC boosted its stake in shares of Tesla by 32.9% during the second quarter. Prudent Man Advisors LLC now owns 2,232 shares of the electric vehicle producer’s stock valued at $709,000 after purchasing an additional 552 shares in the last quarter. Topsail Wealth Management LLC bought a new position in shares of Tesla during the second quarter valued at approximately $206,000. Ingalls & Snyder LLC boosted its stake in shares of Tesla by 153.0% during the second quarter. Ingalls & Snyder LLC now owns 4,709 shares of the electric vehicle producer’s stock valued at $1,496,000 after purchasing an additional 2,848 shares in the last quarter. Finally, Darden Wealth Group Inc lifted its stake in shares of Tesla by 11.9% during the 2nd quarter. Darden Wealth Group Inc now owns 2,143 shares of the electric vehicle producer’s stock worth $681,000 after purchasing an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions 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 transaction of $42,034,800.00. Following the transaction, the director directly 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 document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $433.72 on Friday. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 289.15, a PEG ratio of 15.59 and a beta of 2.08. The business has a 50 day simple moving average of $398.06 and a two-hundred day simple moving average of $340.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TSLA shares. China Renaissance upped their price objective on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research note on Friday. Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a research note on Monday, October 13th. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. William Blair restated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Finally, Guggenheim restated a “sell” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have issued a Hold rating and eleven have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $381.70.

About Tesla

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.