Stonebridge Financial Group LLC Grows Position in Tesla, Inc. $TSLA

Stonebridge Financial Group LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,675 shares of the electric vehicle producer’s stock after buying an additional 551 shares during the period. Stonebridge Financial Group LLC’s holdings in Tesla were worth $1,167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 valued at $25,000 after buying an additional 44 shares during the period. 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 valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC increased its position in shares of Tesla by 250.0% in 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 last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla in the first quarter worth approximately $27,000. Finally, Chelsea Counsel Co. increased its position in shares of 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 last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TSLA shares. China Renaissance restated a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Dbs Bank upped their price objective on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Glj Research restated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Piper Sandler upped their price objective on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Finally, William Blair restated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $354.67.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was 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 approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Stock Down 5.1%

Shares of TSLA opened at $413.49 on Friday. The firm has a market cap of $1.37 trillion, a P/E ratio of 239.01, a P/E/G ratio of 15.81 and a beta of 2.08. The stock has a 50 day simple moving average of $375.97 and a two-hundred day simple moving average of $327.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.