Tesla, Inc. $TSLA Shares Bought by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,341 shares of the electric vehicle producer’s stock after buying an additional 39 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Tesla were worth $2,650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. First Merchants Corp grew its position in shares of Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after buying an additional 31 shares in the last quarter. Alaska Wealth Advisors grew its position in shares of Tesla by 3.4% during the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after buying an additional 32 shares in the last quarter. KWB Wealth grew its position in shares of Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. grew its position in shares of Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after buying an additional 34 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. grew its position in shares of Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after buying an additional 34 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other 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 owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last 90 days. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $433.72 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The stock has a 50 day moving average of $398.06 and a two-hundred day moving average of $340.74. The stock has a market cap of $1.44 trillion, a P/E ratio of 289.15, a P/E/G ratio of 15.59 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TSLA. Bank of America boosted their target price on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Piper Sandler boosted their target price on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, September 22nd. Finally, Stifel Nicolaus set a $483.00 target price on Tesla and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $381.70.

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.