Chartwell Investment Partners LLC Raises Stock Holdings in Tesla Inc (NASDAQ:TSLA)

Chartwell Investment Partners LLC raised its stake in shares of Tesla Inc (NASDAQ:TSLA) by 0.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,610 shares of the electric vehicle producer’s stock after acquiring an additional 13 shares during the period. Chartwell Investment Partners LLC’s holdings in Tesla were worth $3,898,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capstone Financial Group Inc. bought a new position in shares of Tesla during the 2nd quarter valued at $25,000. Asset Advisors Investment Management LLC bought a new position in Tesla in the second quarter valued at about $39,000. Beese Fulmer Investment Management Inc. bought a new position in Tesla in the second quarter valued at about $42,000. MCF Advisors LLC purchased a new position in Tesla in the first quarter worth about $26,000. Finally, Efficient Wealth Management LLC bought a new stake in shares of Tesla during the 1st quarter valued at about $26,000. 50.37% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on TSLA shares. JMP Securities downgraded shares of Tesla from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 21st. Bank of America lifted their price target on shares of Tesla from $500.00 to $800.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group reissued a “buy” rating on shares of Tesla in a research report on Thursday, July 23rd. Morgan Stanley raised their target price on Tesla from $740.00 to $1,050.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, BofA Securities lifted their target price on Tesla from $500.00 to $800.00 and gave the company an “underperform” rating in a research report on Wednesday, July 22nd. Thirteen investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Tesla has a consensus rating of “Hold” and a consensus price target of $846.94.

In other news, SVP Andrew D. Baglino sold 200 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $790.51, for a total value of $158,102.00. Following the completion of the sale, the senior vice president now directly owns 4,345 shares of the company’s stock, valued at approximately $3,434,765.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 2,000 shares of Tesla stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $785.75, for a total value of $1,571,500.00. Following the completion of the transaction, the senior vice president now owns 6,145 shares of the company’s stock, valued at approximately $4,828,433.75. The disclosure for this sale can be found here. Insiders have sold a total of 23,910 shares of company stock worth $24,705,348 over the last 90 days. Corporate insiders own 23.00% of the company’s stock.

Shares of TSLA opened at $1,430.76 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.25 and a quick ratio of 0.87. The stock has a market capitalization of $265.22 billion, a price-to-earnings ratio of 745.19, a price-to-earnings-growth ratio of 24.78 and a beta of 1.19. Tesla Inc has a 1 year low of $211.00 and a 1 year high of $1,794.99. The business’s 50 day simple moving average is $1,259.00 and its 200-day simple moving average is $833.62.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 22nd. The electric vehicle producer reported $2.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.35) by $4.53. Tesla had a net margin of 1.43% and a return on equity of 4.19%. The company had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the prior year, the firm earned ($1.12) earnings per share. On average, sell-side analysts expect that Tesla Inc will post 1.65 earnings per share for the current year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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