Essex LLC Boosts Stock Holdings in Tesla, Inc. $TSLA

Essex LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 38.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,047 shares of the electric vehicle producer's stock after purchasing an additional 840 shares during the period. Essex LLC's holdings in Tesla were worth $968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC boosted its stake in shares of Tesla by 86.3% during 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 holdings 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 purchasing an additional 42 shares during the period. Newton One Investments LLC raised its holdings 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 purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Tesla during the first quarter worth approximately $27,000. Finally, Chelsea Counsel Co. grew its holdings in Tesla by 59.7% in 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 period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TSLA shares. Melius Research set a $520.00 target price on Tesla and gave the company a "buy" rating in a research report on Monday. Benchmark restated a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Melius initiated coverage on shares of Tesla in a report on Monday. They set a "buy" rating and a $520.00 price objective on the stock. Guggenheim reissued a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Finally, CICC Research upped their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus target price of $363.03.

Tesla Stock Up 1.4%

Shares of NASDAQ:TSLA opened at $435.15 on Thursday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock has a market cap of $1.45 trillion, a P/E ratio of 251.53, a PEG ratio of 15.47 and a beta of 2.08. The business has a fifty day moving average of $383.21 and a two-hundred day moving average of $330.90. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm's revenue was down 11.8% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% 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 ninety days. 19.90% of the stock is owned by insiders.

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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