745 Shares in Tesla, Inc. $TSLA Purchased by Almanack Investment Partners LLC.

Key Points

• Almanack Investment Partners LLC purchased 745 shares of Tesla, Inc. for approximately $237,000, indicating a growing interest from institutional investors.
• Tesla's earnings report showed a miss on analysts' expectations, with earnings per share of $0.40 versus a projected $0.43 and a revenue decline of 11.8% year-over-year.
• Multiple investment firms have recently increased their price targets for Tesla, with Goldman Sachs setting a new price objective of $425.00, reflecting mixed but generally positive sentiment from analysts.

Almanack Investment Partners LLC. purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 745 shares of the electric vehicle producer's stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cherry Tree Wealth Management LLC lifted its holdings in Tesla by 86.3% during the first 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 last quarter. First PREMIER Bank lifted its holdings in 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 purchasing an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the first quarter valued at about $27,000. Newton One Investments LLC lifted its holdings in 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 purchasing an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. lifted its holdings in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 5.4%

Shares of TSLA opened at $435.90 on Tuesday. The firm's 50 day simple moving average is $378.50 and its 200 day simple moving average is $329.48. The company has a market capitalization of $1.45 trillion, a P/E ratio of 251.97, a P/E/G ratio of 14.92 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company 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 revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on TSLA. The Goldman Sachs Group upped their price objective on shares of Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a report on Friday, October 3rd. Evercore ISI increased their price target on shares of Tesla from $235.00 to $300.00 and gave the stock an "in-line" rating in a report on Monday. Bank of America increased their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Piper Sandler increased their price target on shares of Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Finally, TD Cowen increased their price target on shares of Tesla from $374.00 to $509.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $363.03.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were 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 in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the 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 transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Insiders own 19.90% of the company's stock.

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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