Weinberger Asset Management Inc Takes Position in Tesla, Inc. $TSLA

Key Points

• Weinberger Asset Management Inc purchased 689 shares of Tesla, valued at approximately $219,000, during the 2nd quarter.
• Tesla's stock is currently down 2.1% and has a market cap of $1.34 trillion, with its price-to-earnings ratio at 240.95.
• Insider selling has occurred recently, with Director James R. Murdoch selling 60,000 shares for over $25 million, reducing his ownership by 8.61%.

Weinberger Asset Management Inc purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 689 shares of the electric vehicle producer's stock, valued at approximately $219,000.

Other large investors have also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% during the first 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 grew its holdings in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares in the last quarter. Pacific Center for Financial Services grew its holdings in Tesla by 1,616.7% in the 4th quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock valued at $42,000 after buying an additional 97 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the 1st quarter valued at $27,000. Finally, Newton One Investments LLC grew its holdings in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 1.9%

TSLA traded up $8.14 during mid-day trading on Monday, hitting $434.21. 96,526,944 shares of the stock were exchanged, compared to its average volume of 86,280,128. The firm's fifty day moving average is $343.03 and its two-hundred day moving average is $309.87. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.44 trillion, a PE ratio of 250.99, a PEG ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (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 firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the company posted $0.52 EPS. Tesla's revenue was down 11.8% on a year-over-year basis. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several analyst reports. Benchmark restated a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. CICC Research upped their target price on Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a report on Thursday. Stifel Nicolaus set a $440.00 price target on Tesla in a report on Friday, September 5th. Guggenheim reiterated a "sell" rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Finally, Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $324.53.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is currently owned by company insiders.

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.