Dumont & Blake Investment Advisors LLC Purchases New Position in Tesla, Inc. $TSLA

Dumont & Blake Investment Advisors LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 666 shares of the electric vehicle producer’s stock, valued at approximately $212,000.

A number of other institutional investors also recently modified their holdings of TSLA. Brighton Jones LLC raised its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Bison Wealth LLC raised its stake in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Tesla by 6.0% in the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock worth $9,812,000 after acquiring an additional 2,153 shares during the last quarter. Finally, Osborne Partners Capital Management LLC bought a new position in shares of Tesla in the first quarter worth about $443,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tesla in a research note on Wednesday, October 8th. Mizuho lifted their price target on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. CICC Research lifted their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Bank of America lifted their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $355.00 price target on shares of Tesla in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $363.54.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were 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 $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’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 transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Stock Up 2.5%

Shares of NASDAQ TSLA opened at $439.31 on Friday. The stock has a market cap of $1.46 trillion, a P/E ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08. The firm has a 50 day moving average price of $387.54 and a 200 day moving average price of $333.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued 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 analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. Analysts expect that Tesla, Inc. will post 2.56 EPS 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.