Baskin Financial Services Inc. Purchases Shares of 810 Tesla, Inc. $TSLA

Key Points

• Baskin Financial Services Inc. acquired a new stake in Tesla, Inc. by purchasing 810 shares valued at approximately $257,000 in the second quarter.
• Insider James R. Murdoch sold 120,000 shares of Tesla for over $42 million, representing a 14.69% decrease in his holdings.
• As of now, 66.20% of Tesla's stock is owned by institutional investors, highlighting significant institutional interest in the company.

Baskin Financial Services Inc. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 810 shares of the electric vehicle producer's stock, valued at approximately $257,000.

Other hedge funds have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC boosted its holdings 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 valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank boosted its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the 1st quarter valued at about $27,000. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. boosted its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction dated 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 directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company's stock.

Tesla Trading Down 5.1%

Shares of NASDAQ TSLA opened at $413.49 on Friday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a market cap of $1.37 trillion, a PE ratio of 239.01, a P/E/G ratio of 15.01 and a beta of 2.08. 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 50-day moving average of $375.97 and a two-hundred day moving average of $327.89.

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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The company's revenue was down 11.8% on a year-over-year basis. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Baird R W upgraded shares of Tesla from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 19th. Piper Sandler lifted their target price on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday, September 22nd. Wedbush lifted their target price on shares of Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research report on Friday, September 26th. The Goldman Sachs Group lifted their price target on shares of Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a report on Friday, October 3rd. Finally, China Renaissance reissued a "hold" rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $354.67.

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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