Johnson Investment Counsel Inc. Has $44.37 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Johnson Investment Counsel Inc. increased its holdings in Tesla, Inc. by 2.4% during the 2nd quarter, now owning 139,691 shares valued at approximately $44.37 million.
• Insider transactions revealed Director James R. Murdoch sold 120,000 shares for about $42 million, reducing his ownership by 14.69%.
• Analysts are optimistic about Tesla’s stock, with several raising their price targets, including a hike from CICC Research from $360 to $450 and Deutsche Bank from $345 to $435.

Johnson Investment Counsel Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,691 shares of the electric vehicle producer's stock after acquiring an additional 3,287 shares during the period. Johnson Investment Counsel Inc.'s holdings in Tesla were worth $44,374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC boosted its position 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 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 worth $25,000 after acquiring an additional 42 shares in the last quarter. 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 worth $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the 1st quarter worth approximately $27,000. 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 worth $28,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. CICC Research increased 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Glj Research restated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Stifel Nicolaus set a $483.00 target price on shares of Tesla and gave the company a "buy" rating in a research report on Wednesday. Finally, China Renaissance restated a "hold" rating and issued a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $354.67.

Tesla Price Performance

TSLA stock opened at $413.49 on Monday. The company has a fifty day moving average price of $375.97 and a 200-day moving average price of $328.28. The company has a market capitalization of $1.37 trillion, a P/E ratio of 239.01, a PEG ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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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