Tesla, Inc. $TSLA Shares Purchased by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,161 shares of the electric vehicle producer’s stock after purchasing an additional 106 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Tesla were worth $369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Brighton Jones LLC grew its stake in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC boosted its position in shares of Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its position in shares of Tesla by 8.9% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 1,894 shares of the electric vehicle producer’s stock worth $491,000 after acquiring an additional 154 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in shares of Tesla by 10.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 47,885 shares of the electric vehicle producer’s stock worth $12,410,000 after acquiring an additional 4,485 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLA has been the subject of several analyst reports. Guggenheim reaffirmed a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. China Renaissance reaffirmed a “hold” rating and set a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Tesla in a research report on Friday. Mizuho upped their price objective on Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Finally, Piper Sandler upped their price objective on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $332.33.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company’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 completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, 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 sold a total of 208,606 shares of company stock valued at $77,360,462 in the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Stock Up 4.0%

Shares of NASDAQ TSLA opened at $440.40 on Monday. The stock has a market cap of $1.46 trillion, a PE ratio of 254.57, a price-to-earnings-growth ratio of 15.36 and a beta of 2.06. 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, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The business has a 50-day moving average price of $352.05 and a 200 day moving average price of $315.40.

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 the consensus estimate of $0.43 by ($0.03). The company 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%. The firm’s revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla 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.