MontVue Capital Management Inc. Buys 704 Shares of Tesla, Inc. $TSLA

Key Points

• MontVue Capital Management Inc. increased its holdings in Tesla, Inc. by 35.7% during the second quarter, bringing its total ownership to 2,678 shares, valued at approximately $851,000.
• Significant insider trading occurred as SVP Xiaotong Zhu and CFO Vaibhav Taneja sold 20,000 and 2,606 shares respectively, indicating a decrease in their ownership positions.
• Multiple analysts have recently upgraded Tesla's stock rating, with Robert W. Baird raising its price target from $320 to $548, reflecting positive sentiment in the market.

MontVue Capital Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 35.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,678 shares of the electric vehicle producer's stock after acquiring an additional 704 shares during the period. Tesla makes up 0.6% of MontVue Capital Management Inc.'s portfolio, making the stock its 27th largest holding. MontVue Capital Management Inc.'s holdings in Tesla were worth $851,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC raised its holdings 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 raised its holdings 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 raised its holdings 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 purchased a new stake in shares of Tesla during the 1st quarter worth approximately $27,000. Finally, Chelsea Counsel Co. raised its holdings 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. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on 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 sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% 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, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction 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 completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 over the last quarter. Company insiders own 19.90% of the company's stock.

Tesla Stock Performance

TSLA stock opened at $440.40 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business's fifty day simple moving average is $352.05 and its two-hundred day simple moving average is $314.42. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 254.57, a PEG ratio of 14.77 and a beta of 2.06.

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 analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the business earned $0.52 EPS. The business's revenue for the quarter was down 11.8% on a year-over-year basis. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Wedbush increased their price target on Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Friday. Morgan Stanley restated an "overweight" rating and set a $410.00 price target on shares of Tesla in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a report on Friday. Finally, Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $332.33.

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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