Weybosset Research & Management LLC Buys Shares of 685 Tesla, Inc. $TSLA

Key Points

• Weybosset Research & Management LLC acquired a new stake in Tesla, Inc. worth approximately $218,000, increasing its focus on the electric vehicle market during the second quarter.
• Several other institutional investors, including Cherry Tree Wealth Management LLC and First PREMIER Bank, significantly increased their positions in Tesla, highlighting growing institutional interest in the company.
• Tesla's stock recently opened at $426.07 and has a market cap of $1.42 trillion, with analysts giving it a mixed rating, ranging from "Strong Buy" to "Sell".

Weybosset Research & Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 685 shares of the electric vehicle producer's stock, valued at approximately $218,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC increased its stake 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 purchasing an additional 44 shares during the last quarter. First PREMIER Bank increased its stake 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 purchasing an additional 42 shares during the last quarter. Newton One Investments LLC increased its stake 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 purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla in the 1st quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. lifted 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 acquiring an additional 40 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TSLA shares. Mizuho increased their target price on Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research report on Tuesday. CICC Research increased their target price on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. The Goldman Sachs Group raised their price target on shares of Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a report on Thursday, September 18th. Morgan Stanley reissued an "overweight" rating and issued a $410.00 price target on shares of Tesla in a report on Friday, September 5th. Finally, Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday. Two equities research 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, Tesla has an average rating of "Hold" and an average target price of $326.74.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 208,606 shares of company stock worth $77,360,462. Corporate insiders own 19.90% of the company's stock.

Tesla Stock Down 0.1%

Shares of NASDAQ TSLA traded down $0.58 during midday trading on Tuesday, hitting $433.64. The stock had a trading volume of 40,788,605 shares, compared to its average volume of 103,012,313. The business's 50 day moving average is $343.03 and its 200-day moving average is $309.87. The company has a market cap of $1.44 trillion, a P/E ratio of 250.83, a PEG ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. 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 (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.