Appleton Partners Inc. MA Invests $232,000 in Tesla, Inc. $TSLA

Appleton Partners Inc. MA purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 731 shares of the electric vehicle producer's stock, valued at approximately $232,000.

Other large investors have also added to or reduced their stakes in the company. KWB Wealth raised its position in shares of Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock valued at $439,000 after buying an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. raised its position in shares of Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock valued at $310,000 after buying an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. raised its position in shares of Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after buying an additional 34 shares during the last quarter. Kelly Financial Services LLC increased its position in Tesla by 2.7% in the second quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer's stock worth $423,000 after purchasing an additional 35 shares during the last quarter. Finally, Acorn Wealth Advisors LLC increased its position in Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $433.09 on Wednesday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company's 50 day moving average is $368.81 and its 200 day moving average is $324.77. 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 250.34, a price-to-earnings-growth ratio of 15.75 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. The firm's revenue was down 11.8% compared to the same quarter last year. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TSLA. William Blair restated a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. UBS Group set a $247.00 price target on shares of Tesla in a report on Monday. Wedbush upped their price target on shares of Tesla from $500.00 to $600.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Finally, CICC Research upped their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $344.40.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, 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 filing with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last quarter. Corporate 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.

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