Members Trust Co Makes New Investment in Tesla, Inc. $TSLA

Key Points

• Members Trust Co has made a significant investment in Tesla, acquiring 837 shares valued at approximately $266,000 during the second quarter.
• Insider activity reveals that Director James R. Murdoch sold 60,000 shares for over $25 million, reducing his ownership by 8.61%.
• Tesla's latest earnings report showed that the company missed analysts' expectations with a net revenue of $22.50 billion, compared to the forecast of $23.18 billion.

Members Trust Co purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 837 shares of the electric vehicle producer's stock, valued at approximately $266,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. LGT Financial Advisors LLC acquired a new position in shares of Tesla during the second quarter worth about $29,000. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla during the first quarter worth about $27,000. Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares in the last quarter. Evergreen Private Wealth LLC grew its position in shares of 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. Finally, Centennial Bank AR grew its position in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the business'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 value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were 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 owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $442.60 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a 50 day moving average of $391.74 and a two-hundred day moving average of $336.26. The stock has a market cap of $1.47 trillion, a P/E ratio of 255.84, a P/E/G ratio of 16.08 and a beta of 2.08.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TSLA. CICC Research boosted their price objective on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Bank of America boosted their price objective on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Guggenheim reissued a "sell" rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Evercore ISI upped their price target on Tesla from $235.00 to $300.00 and gave the company an "in-line" rating in a report on Monday, October 13th. Finally, Robert W. Baird raised 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. Two 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 issued a Sell rating to the company's stock. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $363.54.

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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