Thurston Springer Miller Herd & Titak Inc. Has $5.37 Million Stake in Tesla, Inc. $TSLA

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in Tesla by 761.7%, holding 16,916 shares valued at approximately $5.37 million.
• As of the latest SEC filing, institutional investors own 66.20% of Tesla's stock, indicating strong institutional interest.
• Tesla reported a quarterly EPS of $0.40, which missed analysts' expectations by $0.03, while its revenue decreased by 11.8% year-over-year.

Thurston Springer Miller Herd & Titak Inc. increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 761.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,916 shares of the electric vehicle producer's stock after buying an additional 14,953 shares during the period. Tesla accounts for 0.7% of Thurston Springer Miller Herd & Titak Inc.'s holdings, making the stock its 26th largest position. Thurston Springer Miller Herd & Titak Inc.'s holdings in Tesla were worth $5,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% in the first 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 raised its position in shares of Tesla by 79.2% in the first 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. Pacific Center for Financial Services raised its position in shares of Tesla by 1,616.7% in the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock valued at $42,000 after buying an additional 97 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the first quarter valued at approximately $27,000. Finally, Newton One Investments LLC increased its stake in Tesla by 250.0% in 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 last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TSLA. Morgan Stanley reissued an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, September 5th. Mizuho decreased their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Glj Research reissued a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Bank of America lifted their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Stifel Nicolaus set a $440.00 price objective on shares of Tesla in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $303.00.

Tesla Stock Performance

Shares of Tesla stock opened at $395.94 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. 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 $1.28 trillion, a price-to-earnings ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06. The company's fifty day moving average is $328.89 and its 200 day moving average is $303.57.

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 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 during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm earned $0.52 EPS. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on 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 sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,606 shares of company stock valued at $51,999,662 over the last 90 days. 20.70% of the stock is owned by insiders.

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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