Winthrop Advisory Group LLC Acquires 509 Shares of Tesla, Inc. $TSLA

Winthrop Advisory Group LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 6.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,348 shares of the electric vehicle producer’s stock after purchasing an additional 509 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Tesla were worth $2,652,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TSLA. KWB Wealth increased its holdings in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. increased its holdings in Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after purchasing an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. increased its holdings in Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares in the last quarter. Kelly Financial Services LLC increased its holdings in Tesla by 2.7% in the 2nd quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock worth $423,000 after purchasing an additional 35 shares in the last quarter. Finally, Acorn Wealth Advisors LLC increased its holdings in Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after purchasing an additional 36 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSLA. China Renaissance reaffirmed a “hold” rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Wedbush upped their price target on Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $410.00 price target on shares of Tesla in a research report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $345.70.

Tesla Stock Up 1.3%

Shares of Tesla stock opened at $438.69 on Thursday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock’s 50-day moving average is $371.20 and its 200 day moving average is $325.56. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.58, a PEG ratio of 15.92 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last 90 days. Corporate insiders own 19.90% of the company’s stock.

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.