Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Abbot Financial Management Inc.

Abbot Financial Management Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 12.7% during the second quarter, HoldingsChannel reports. The fund owned 2,853 shares of the electric vehicle producer’s stock after purchasing an additional 321 shares during the period. Abbot Financial Management Inc.’s holdings in Tesla were worth $565,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Bank & Trust Co purchased a new stake in Tesla in the second quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla in the 2nd quarter valued at about $26,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla in the 4th quarter valued at about $37,000. Kessler Investment Group LLC increased its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 51 shares during the period. Finally, Aspect Partners LLC lifted its stake in Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $226.78 on Tuesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $273.93. The company has a market capitalization of $723.25 billion, a P/E ratio of 57.85, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $222.85 and a two-hundred day moving average price of $194.75.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company restated an “underweight” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, July 1st. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Wolfe Research started coverage on shares of Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. TD Cowen boosted their price target on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada decreased their price objective on Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $209.60.

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.