Princeton Global Asset Management LLC Acquires 225 Shares of Tesla, Inc. $TSLA

Princeton Global Asset Management LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 37.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 829 shares of the electric vehicle producer’s stock after purchasing an additional 225 shares during the period. Princeton Global Asset Management LLC’s holdings in Tesla were worth $263,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TSLA. Arcadia Investment Management Corp MI bought a new position in Tesla during the first quarter valued at about $27,000. Chelsea Counsel Co. increased its stake in Tesla by 59.7% during the first 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 period. Centennial Bank AR increased its stake in Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares during the period. Compass Wealth Management LLC increased its stake in Tesla by 360.0% during the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Columbia River Financial Group LLC bought a new position in Tesla during the first quarter valued at about $32,000. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’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 transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Stock Up 1.8%

Shares of TSLA opened at $447.43 on Tuesday. The company has a market capitalization of $1.49 trillion, a P/E ratio of 258.63, a PEG ratio of 15.79 and a beta of 2.08. 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 one year low of $212.11 and a one year high of $488.54. The business’s 50 day simple moving average is $389.71 and its 200-day simple moving average is $335.51.

Tesla (NASDAQ:TSLA) last announced its earnings results 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The firm’s revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Evercore ISI upped their price objective on Tesla from $235.00 to $300.00 and gave the company an “in-line” rating in a research note on Monday, October 13th. Benchmark reiterated a “buy” rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $363.54.

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.