Hazlett Burt & Watson Inc. Buys 509 Shares of Tesla, Inc. $TSLA

Hazlett Burt & Watson Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 72.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,210 shares of the electric vehicle producer’s stock after purchasing an additional 509 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Tesla were worth $386,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Brighton Jones LLC boosted its position in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Tesla by 21.2% during 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 in the last quarter. Bison Wealth LLC lifted its holdings in Tesla by 52.2% during 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 in the last quarter. GAMMA Investing LLC lifted its holdings in Tesla by 6.0% during 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 in the last quarter. Finally, Aries Wealth Management lifted its holdings in Tesla by 7.9% during the first quarter. Aries Wealth Management now owns 1,000 shares of the electric vehicle producer’s stock worth $259,000 after acquiring an additional 73 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated 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 sale, the senior vice president owned 47,600 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by insiders.

Tesla Price Performance

NASDAQ:TSLA opened at $435.90 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock’s 50-day simple moving average is $378.50 and its 200 day simple moving average is $329.48. The company has a market cap of $1.45 trillion, a P/E ratio of 251.97, a P/E/G ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results 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 company had revenue of $22.50 billion during 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%. Tesla’s revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their target price on Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $355.00 target price on shares of Tesla in a report on Friday, October 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $410.00 target price on shares of Tesla in a report on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $363.03.

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.