Liberty Capital Management Inc. Purchases New Stake in Tesla, Inc. $TSLA

Key Points

• Liberty Capital Management Inc. acquired a new stake in Tesla, Inc. by purchasing 723 shares valued at approximately $230,000 during the second quarter.
• Several other investors have also increased their stakes in Tesla, with significant percentage increases noted, such as Newton One Investments LLC growing its holdings by 250%.
• Director James R. Murdoch sold 60,000 shares, reducing his ownership by 8.61%, while Tesla's stock has seen recent fluctuations with a one-year high of $488.54 and low of $212.11.

Liberty Capital Management Inc. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 723 shares of the electric vehicle producer's stock, valued at approximately $230,000.

A number of other large investors have also added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank grew 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 valued at $25,000 after buying an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla in the 1st quarter valued at $27,000. Newton One Investments LLC grew 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 valued at $27,000 after buying an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. grew its holdings in Tesla by 59.7% in the 1st 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 in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm'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 sale, 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. Insiders sold 208,606 shares of company stock valued at $77,360,462 over the last 90 days. Company insiders own 19.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on TSLA shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. China Renaissance reissued a "hold" rating and set a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Guggenheim reissued a "sell" rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Argus reissued a "hold" rating on shares of Tesla in a report on Monday, June 9th. Finally, Canaccord Genuity Group increased their target price on Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $337.15.

Tesla Price Performance

Shares of TSLA opened at $459.46 on Thursday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 265.58, a price-to-earnings-growth ratio of 15.46 and a beta of 2.08. The business has a 50-day moving average of $359.13 and a 200-day moving average of $318.62.

Tesla (NASDAQ:TSLA - Get Free Report) last released its 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 business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business earned $0.52 EPS. The company's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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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