Morton Brown Family Wealth LLC Purchases 36 Shares of Tesla, Inc. $TSLA

Morton Brown Family Wealth LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 36.0% during the second quarter, Holdings Channel.com reports. The firm owned 136 shares of the electric vehicle producer’s stock after acquiring an additional 36 shares during the period. Morton Brown Family Wealth LLC’s holdings in Tesla were worth $43,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank boosted its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the 1st quarter worth about $27,000. Finally, Chelsea Counsel Co. lifted its position in Tesla by 59.7% in the 1st 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 in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 5.1%

NASDAQ:TSLA opened at $413.49 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 $1.37 trillion, a price-to-earnings ratio of 239.01, a price-to-earnings-growth ratio of 15.81 and a beta of 2.08. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The firm has a 50-day moving average price of $375.97 and a two-hundred day moving average price of $327.51.

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 firm had revenue of $22.50 billion during 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 company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were 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 trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 in the last quarter. Insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TSLA shares. HSBC raised their price target on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Mizuho raised their price target on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. UBS Group set a $247.00 price target on shares of Tesla in a research report on Monday. Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Finally, Wedbush raised their price target on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $354.67.

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.