J. M. Brown & Associates Inc. Purchases Shares of 2,391 Tesla, Inc. $TSLA

Key Points

• J. M. Brown & Associates purchased 2,391 Tesla shares in the second quarter, valued at approximately $1.01 million. Institutional investors collectively own 66.2% of Tesla’s stock.
• Tesla CFO Vaibhav Taneja sold 2,606 shares for about $1.05 million to cover tax obligations tied to vested equity awards; insiders retain a 19.9% ownership stake.
• Tesla reported quarterly revenue of $28.24 billion, up 25.5% year over year, but its $0.33 earnings per share missed estimates of $0.50. Analysts’ average rating is “Hold,” with an average price target of $401.74.

J. M. Brown & Associates Inc. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,391 shares of the electric vehicle producer's stock, valued at approximately $1,006,000.

Several other hedge funds also recently modified their holdings of TSLA. Marks Group Wealth Management Inc grew its stake in shares of Tesla by 1.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 1,512 shares of the electric vehicle producer's stock valued at $680,000 after buying an additional 25 shares during the period. Clear Trail Advisors LLC boosted its holdings in Tesla by 1.6% in the first quarter. Clear Trail Advisors LLC now owns 1,628 shares of the electric vehicle producer's stock worth $605,000 after acquiring an additional 25 shares in the last quarter. Peirce Capital Management LLC grew its stake in Tesla by 1.5% in the second quarter. Peirce Capital Management LLC now owns 1,657 shares of the electric vehicle producer's stock valued at $697,000 after acquiring an additional 25 shares during the period. Brio Consultants LLC increased its holdings in shares of Tesla by 4.7% during the fourth quarter. Brio Consultants LLC now owns 575 shares of the electric vehicle producer's stock valued at $259,000 after acquiring an additional 26 shares in the last quarter. Finally, Community Bank & Trust Waco Texas increased its holdings in shares of Tesla by 1.7% during the fourth quarter. Community Bank & Trust Waco Texas now owns 1,581 shares of the electric vehicle producer's stock valued at $711,000 after acquiring an additional 26 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares of the company's stock, valued at approximately $8,864,085.80. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 19.90% of the company's stock.

Tesla Stock Performance

Shares of TSLA opened at $348.95 on Tuesday. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83. The stock's 50-day simple moving average is $364.38 and its 200 day simple moving average is $386.56. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 1.94. The stock has a market capitalization of $1.38 trillion, a price-to-earnings ratio of 323.10, a price-to-earnings-growth ratio of 18.32 and a beta of 1.83.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The company had revenue of $28.24 billion for the quarter, compared to analysts' expectations of $26.42 billion. During the same period in the previous year, the firm earned $0.33 EPS. The firm's quarterly revenue was up 25.5% compared to the same quarter last year. Research analysts forecast that Tesla, Inc. will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on TSLA. Citizens Jmp assumed coverage on shares of Tesla in a research report on Thursday, July 9th. They set a "market perform" rating for the company. BMO Capital Markets started coverage on Tesla in a report on Monday, August 17th. They set an "outperform" rating for the company. Weiss Ratings restated a "hold (c-)" rating on shares of Tesla in a report on Tuesday, July 21st. Sanford C. Bernstein raised Tesla from an "underperform" rating to an "outperform" rating in a research report on Friday, June 5th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nineteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $401.74.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Nevada approved Tesla to deploy up to 5,000 robo-taxis, expanding the company’s permitted autonomous-vehicle fleet and supporting its strategy to build a transportation business beyond vehicle sales. Tesla's Robo-Taxi Expansion Takes a Leap Forward
• Positive Sentiment: Tesla plans to launch its wheelless, pedal-less Cybercab in Austin on September 3 and expects to roll out 2,500 robotaxis during 2026. The event could provide investors with evidence of progress toward scaling autonomous ride-hailing. Tesla to launch Cybercabs in Austin starting Sept. 3
• Positive Sentiment: Tesla retained a majority of the U.S. electric-vehicle market in the second quarter, although the overall U.S. EV market is shrinking and Tesla’s international performance remains a concern. Tesla Maintained Its Majority of the U.S. EV Market in Q2

Tesla Profile

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

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