Klingman & Associates LLC Buys 1,382 Shares of Tesla, Inc. $TSLA

Key Points

• Klingman & Associates LLC increased its stake in Tesla by 27.4%, acquiring an additional 1,382 shares to reach a total of 6,432 shares valued at approximately $2,043,000.
• Several brokerages have updated their ratings on Tesla, with Deutsche Bank raising its price target from $345.00 to $435.00, while Baird R W upgraded the stock from "hold" to "strong-buy."
• Insider transactions included Director James R. Murdoch selling 120,000 shares for approximately $42 million, reflecting a 14.69% decrease in their ownership of Tesla stock.

Klingman & Associates LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 27.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,432 shares of the electric vehicle producer's stock after purchasing an additional 1,382 shares during the period. Klingman & Associates LLC's holdings in Tesla were worth $2,043,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Arcadia Investment Management Corp MI bought a new position in Tesla in the 1st quarter valued at $27,000. Chelsea Counsel Co. boosted its stake 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 buying an additional 40 shares during the period. Evergreen Private Wealth LLC grew its position in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer's stock worth $35,000 after buying an additional 81 shares in the last quarter. Centennial Bank AR increased its stake in 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 during the last quarter. Finally, Compass Wealth Management LLC raised its holdings in shares of Tesla by 360.0% in the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer's stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. China Renaissance reissued a "hold" rating and set a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Benchmark reissued a "buy" rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Baird R W upgraded shares of Tesla from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 19th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $355.00 price target on shares of Tesla in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $363.54.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction dated 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 directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA opened at $447.43 on Tuesday. The company has a 50-day simple moving average of $389.71 and a two-hundred day simple moving average of $335.51. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market cap of $1.49 trillion, a price-to-earnings ratio of 258.63, a PEG ratio of 15.79 and a beta of 2.08. 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 issued 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 for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company's revenue was down 11.8% compared to the same quarter last year. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

About Tesla

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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