Joule Financial LLC Has $1.51 Million Stock Holdings in Tesla, Inc. $TSLA

Joule Financial LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 37.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,754 shares of the electric vehicle producer's stock after selling 2,833 shares during the quarter. Tesla makes up 0.5% of Joule Financial LLC's portfolio, making the stock its 28th biggest holding. Joule Financial LLC's holdings in Tesla were worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors 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 first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla in the first quarter worth $27,000. Newton One Investments LLC boosted its holdings in Tesla by 250.0% during the first 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 during the period. Finally, Chelsea Counsel Co. boosted its holdings in Tesla by 59.7% during the first 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 during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the 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 owned 697,031 shares of the company's stock, valued at $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 SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the 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 $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last quarter. Corporate insiders own 19.90% of the company's stock.

Tesla Stock Up 5.4%

NASDAQ TSLA opened at $453.25 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a 50-day simple moving average of $366.57 and a 200 day simple moving average of $324.02. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market cap of $1.51 trillion, a PE ratio of 261.99, a PEG ratio of 14.93 and a beta of 2.08.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSLA. Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and upped their price target for the company from $320.00 to $548.00 in a report on Friday, September 19th. CICC Research upped their price target on shares of Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a report on Thursday, September 18th. Royal Bank Of Canada restated a "buy" rating on shares of Tesla in a report on Friday, September 26th. Guggenheim restated a "sell" rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Finally, Morgan Stanley restated an "overweight" rating and set a $410.00 price target on shares of Tesla in a report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $344.40.

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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