Tesla, Inc. $TSLA Shares Acquired by Narwhal Capital Management

Narwhal Capital Management grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 58.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,166 shares of the electric vehicle producer’s stock after purchasing an additional 2,652 shares during the quarter. Narwhal Capital Management’s holdings in Tesla were worth $2,276,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC grew its position in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank grew its position in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC grew its position in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the first quarter valued at about $27,000. Finally, Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLA. William Blair reissued a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $355.00 price target on shares of Tesla in a research note on Friday, October 3rd. Finally, China Renaissance reissued a “hold” rating and issued a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Two investment 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $349.37.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $435.54 on Friday. 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 firm’s 50-day moving average is $373.75 and its two-hundred day moving average is $326.64. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a market capitalization of $1.45 trillion, a PE ratio of 251.76, a price-to-earnings-growth ratio of 16.04 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period last year, the firm earned $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts predict that Tesla, Inc. will post 2.56 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.