Maple Capital Management Inc. Boosts Stock Position in Tesla, Inc. $TSLA

Maple Capital Management Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,257 shares of the electric vehicle producer’s stock after acquiring an additional 142 shares during the period. Maple Capital Management Inc.’s holdings in Tesla were worth $1,035,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Marble Harbor Investment Counsel LLC bought a new position in shares of Tesla in the second quarter valued at approximately $208,000. PNC Financial Services Group Inc. lifted its stake in Tesla by 11.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 583,941 shares of the electric vehicle producer’s stock worth $185,495,000 after purchasing an additional 59,349 shares in the last quarter. Comprehensive Financial Planning Inc. PA boosted its holdings in Tesla by 16.7% in the 2nd quarter. Comprehensive Financial Planning Inc. PA now owns 3,214 shares of the electric vehicle producer’s stock valued at $1,021,000 after purchasing an additional 461 shares during the period. Bouchey Financial Group Ltd grew its position in shares of Tesla by 10.0% during the 2nd quarter. Bouchey Financial Group Ltd now owns 3,213 shares of the electric vehicle producer’s stock valued at $1,021,000 after purchasing an additional 293 shares in the last quarter. Finally, Apex Wealth Management LLC increased its holdings in shares of Tesla by 2.0% in the second quarter. Apex Wealth Management LLC now owns 12,903 shares of the electric vehicle producer’s stock worth $4,099,000 after purchasing an additional 247 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TSLA shares. Stifel Nicolaus set a $483.00 target price on Tesla and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research report on Monday, October 13th. TD Cowen lifted their target price on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. President Capital increased their price target on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eleven have given a Sell rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $391.08.

Tesla Stock Down 1.3%

Shares of NASDAQ:TSLA opened at $439.62 on Wednesday. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 293.08, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The stock’s 50-day moving average price is $425.40 and its 200-day moving average price is $358.68. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business’s 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 transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated 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 sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

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.