Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Chicago Wealth Management Inc.

Chicago Wealth Management Inc. raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,075 shares of the electric vehicle producer’s stock after acquiring an additional 75 shares during the period. Chicago Wealth Management Inc.’s holdings in Tesla were worth $608,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after purchasing an additional 206,248 shares during the last quarter. Morse Asset Management Inc increased its holdings in shares of Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after buying an additional 3,462 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Tesla by 7.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after buying an additional 1,943 shares during the period. Entropy Technologies LP acquired a new position in Tesla in the first quarter valued at $1,941,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Tesla during the first quarter valued at about $79,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TSLA. Stifel Nicolaus began coverage on Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective on the stock. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Mizuho boosted their price objective on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 target price on shares of Tesla in a research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $209.90.

Tesla Trading Up 2.5 %

NASDAQ:TSLA opened at $260.46 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $832.08 billion, a PE ratio of 66.44, a P/E/G ratio of 6.92 and a beta of 2.29. The business’s 50 day moving average is $221.89 and its two-hundred day moving average is $198.67.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The disclosure for this sale can be found here. In the last three months, insiders sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

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.