Cook Wealth LLC Invests $370,000 in Tesla, Inc. $TSLA

Key Points

• Cook Wealth LLC has recently acquired a stake of 1,319 shares in Tesla, Inc., valued at approximately $370,000.
• Recent transactions from company insiders included significant sales, with SVP Xiaotong Zhu selling 15,000 shares and Director James R. Murdoch selling 120,000 shares, reflecting a decrease in their respective positions.
• An average rating of "Hold" with a price target of $303.31 has been assigned to Tesla from analysts, with mixed ratings including one "Strong Buy" and several "Sell" ratings.

Cook Wealth LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,319 shares of the electric vehicle producer's stock, valued at approximately $370,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC raised its position in shares of 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 in the last quarter. First PREMIER Bank raised its position in shares of 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 in the last quarter. Newton One Investments LLC raised its position in shares of 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 in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla in the 1st quarter worth about $27,000. Finally, Centennial Bank AR raised its position in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TSLA shares. Benchmark reissued a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $303.31.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,564 shares of company stock worth $49,396,070. Insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $12.31 during midday trading on Friday, reaching $350.84. The company's stock had a trading volume of 108,740,568 shares, compared to its average volume of 72,012,552. Tesla, Inc. has a 12-month low of $210.51 and a 12-month high of $488.54. The firm has a 50 day moving average price of $324.00 and a 200-day moving average price of $302.25. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 202.80, a PEG ratio of 12.24 and a beta of 2.06. 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 (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 business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.