Tesla, Inc. $TSLA Shares Purchased by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,642 shares of the electric vehicle producer’s stock after purchasing an additional 345 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Tesla were worth $1,792,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. First PREMIER Bank raised its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the 1st quarter worth approximately $27,000. Chelsea Counsel Co. raised its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the period. Evergreen Private Wealth LLC lifted its holdings in Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares during the last quarter. Finally, Centennial Bank AR grew its position in Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated 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 in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Tesla Trading Up 2.5%

NASDAQ TSLA opened at $439.31 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.94, a PEG ratio of 15.79 and a beta of 2.08. The firm has a 50 day simple moving average of $387.54 and a 200-day simple moving average of $333.60. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the company earned $0.52 earnings per share. Tesla’s quarterly revenue was down 11.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on TSLA shares. BNP Paribas Exane assumed coverage on Tesla in a research report on Thursday. They issued an “underperform” rating and a $307.00 target price on the stock. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tesla in a research report on Wednesday, October 8th. China Renaissance reiterated a “hold” rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Finally, Bank of America boosted their price target on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $363.54.

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.