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

Maple Capital Management Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,115 shares of the electric vehicle producer’s stock after acquiring an additional 496 shares during the period. Maple Capital Management Inc.’s holdings in Tesla were worth $807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Means Investment CO. Inc. increased its position in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. increased its position in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after purchasing an additional 670 shares in the last quarter. Zuckerman Investment Group LLC increased its position in Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares in the last quarter. Siren L.L.C. purchased a new stake in Tesla during the 1st quarter worth about $2,332,000. Finally, Keystone Global Partners LLC purchased a new stake in Tesla during the 1st quarter worth about $594,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Guggenheim reiterated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Bank of America lifted their price objective on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. UBS Group set a $290.00 price target on Tesla in a report on Monday, June 30th. Wedbush restated an “outperform” rating and issued a $500.00 price target on shares of Tesla in a report on Monday, August 4th. Finally, Royal Bank Of Canada restated an “overweight” rating on shares of Tesla in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $303.00.

Tesla Stock Up 6.0%

Shares of NASDAQ:TSLA opened at $368.81 on Friday. 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 1 year low of $212.11 and a 1 year high of $488.54. The stock has a market capitalization of $1.19 trillion, a P/E ratio of 213.18, a PEG ratio of 12.13 and a beta of 2.06. The stock has a 50-day simple moving average of $327.25 and a 200-day simple moving average of $302.84.

Tesla (NASDAQ:TSLA) last issued 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). 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 quarter in the previous year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,606 shares of company stock valued at $44,724,662 in the last quarter. Company insiders own 20.70% of the company’s stock.

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.