Washburn Capital Management Inc. Purchases New Stake in Tesla, Inc. (NASDAQ:TSLA)

Washburn Capital Management Inc. bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 965 shares of the electric vehicle producer’s stock, valued at approximately $252,000.

A number of other institutional investors have also modified their holdings of the stock. Bank & Trust Co acquired a new stake in Tesla in the second quarter worth $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Clean Yield Group boosted its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Finally, M&R Capital Management Inc. raised its holdings in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TSLA. Robert W. Baird restated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $147.00 to $197.00 in a research note on Friday, July 12th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday. William Blair initiated coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Barclays lowered their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $219.00.

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 value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 1.0 %

Shares of NASDAQ TSLA traded up $2.71 during mid-day trading on Monday, reaching $271.90. 36,105,188 shares of the company traded hands, compared to its average volume of 94,402,641. The company’s fifty day moving average is $230.53 and its two-hundred day moving average is $207.92. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $272.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market cap of $872.82 billion, a PE ratio of 73.75, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

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.