Ballentine Partners LLC Raises Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Ballentine Partners LLC increased its position in Tesla, Inc. by 46.5% during the second quarter, bringing their total holdings to 44,359 shares, valued at over $14 million.
• Numerous institutional investors have increased their stakes in Tesla with Cherry Tree Wealth Management raising its stake by 86.3% and First PREMIER Bank by 79.2% in the first quarter.
• Analysts maintain a mixed outlook on Tesla, with 19 Buy ratings and 9 Sell ratings, while the average consensus target price is $326.74.

Ballentine Partners LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 46.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,359 shares of the electric vehicle producer's stock after acquiring an additional 14,076 shares during the period. Ballentine Partners LLC's holdings in Tesla were worth $14,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC raised its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank raised its stake in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC raised its stake in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla in the 1st quarter worth $27,000. Finally, Chelsea Counsel Co. raised its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. William Blair reiterated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Guggenheim reiterated a "sell" rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Finally, Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $326.74.

Tesla Trading Down 1.9%

TSLA opened at $425.85 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company's 50 day simple moving average is $345.33 and its two-hundred day simple moving average is $310.67. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 246.16, a price-to-earnings-growth ratio of 15.15 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the business earned $0.52 earnings per share. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 in the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

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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