Tesla, Inc. $TSLA Shares Acquired by Gemmer Asset Management LLC

Gemmer Asset Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,418 shares of the electric vehicle producer’s stock after buying an additional 175 shares during the period. Gemmer Asset Management LLC’s holdings in Tesla were worth $1,403,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Cherry Tree Wealth Management LLC raised its stake in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its holdings 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 buying an additional 42 shares during the last quarter. Newton One Investments LLC lifted its holdings in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla in the 1st quarter worth approximately $27,000. Finally, Chelsea Counsel Co. increased its holdings in shares of 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 acquiring an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TSLA. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Tesla in a report on Friday, September 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Bank of America increased their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Argus restated a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Finally, Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the company from $320.00 to $548.00 in a report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $344.40.

Tesla Price Performance

NASDAQ:TSLA opened at $453.25 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $366.57 and its 200 day moving average price is $324.02. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm has a market cap of $1.51 trillion, a P/E ratio of 261.99, a PEG ratio of 14.93 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s 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 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 disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last 90 days. Company insiders own 19.90% of the company’s stock.

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.