NorthRock Partners LLC Purchases 3,339 Shares of Tesla, Inc. $TSLA

NorthRock Partners LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.0% during the second quarter, Holdings Channel.com reports. The fund owned 59,027 shares of the electric vehicle producer’s stock after acquiring an additional 3,339 shares during the quarter. NorthRock Partners LLC’s holdings in Tesla were worth $18,750,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. William Blair restated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Canaccord Genuity Group boosted their price target on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a research report on Wednesday, October 8th. Finally, Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $363.03.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Trading Down 1.5%

NASDAQ TSLA opened at $429.24 on Wednesday. The stock has a market cap of $1.43 trillion, a PE ratio of 248.12, a PEG ratio of 15.71 and a beta of 2.08. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company’s 50-day moving average price is $380.91 and its 200-day moving average price is $330.17. 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 (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the company earned $0.52 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.