Abel Hall LLC Has $1.27 Million Stake in Tesla, Inc. $TSLA

Abel Hall LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 23.3% in the 2nd quarter, Holdings Channel reports. The firm owned 3,989 shares of the electric vehicle producer’s stock after purchasing an additional 755 shares during the period. Tesla accounts for approximately 0.6% of Abel Hall LLC’s holdings, making the stock its 27th biggest position. Abel Hall LLC’s holdings in Tesla were worth $1,267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC lifted its holdings in Tesla by 86.3% in 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 lifted its holdings in Tesla by 79.2% in 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 lifted its holdings in Tesla by 250.0% in 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 acquired a new stake in Tesla in the 1st quarter worth approximately $27,000. Finally, Chelsea Counsel Co. lifted its holdings in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts have recently commented on TSLA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a report on Wednesday. Glj Research reiterated a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $355.00 price target on shares of Tesla in a report on Friday, October 3rd. Morgan Stanley reiterated an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Thursday, October 2nd. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Tesla in a report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $345.70.

Tesla Stock Performance

TSLA opened at $438.69 on Thursday. The stock has a market cap of $1.46 trillion, a PE ratio of 253.58, a P/E/G ratio of 15.92 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The stock’s 50 day simple moving average is $371.20 and its 200-day simple moving average is $325.56.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Sell-side analysts forecast 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.