720 Shares in Tesla, Inc. $TSLA Purchased by McCarthy & Cox

Key Points

• McCarthy & Cox has acquired a new stake in Tesla, purchasing 720 shares valued at approximately $229,000 in the second quarter.
• Tesla's stock experienced a 4.0% increase recently, with a current price of $442.79 and a market capitalization of $1.47 trillion.
• In its latest quarterly earnings report, Tesla reported an EPS of $0.40, falling short of analysts' expectations of $0.43, alongside a revenue of $22.50 billion, down 11.8% from the previous year.

McCarthy & Cox purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 720 shares of the electric vehicle producer's stock, valued at approximately $229,000.

A number of other large investors have also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank increased its position in shares of Tesla by 79.2% during the first 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 during the period. Newton One Investments LLC increased its position in shares of Tesla by 250.0% during the first 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 during the period. Arcadia Investment Management Corp MI bought a new position in Tesla in the first quarter worth about $27,000. Finally, Chelsea Counsel Co. lifted its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 4.0%

NASDAQ:TSLA opened at $442.79 on Thursday. 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 $1.47 trillion, a P/E ratio of 255.95, a P/E/G ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm has a 50-day simple moving average of $347.75 and a two-hundred day simple moving average of $311.58.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, 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 transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 over the last quarter. 19.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSLA. The Goldman Sachs Group increased their target price on Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a research report on Thursday, September 18th. China Renaissance reiterated a "hold" rating and issued a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $320.00 to $548.00 in a report on Friday, September 19th. CICC Research increased their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Finally, HSBC reissued a "reduce" rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $326.74.

Tesla Company 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.

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