Thurston Springer Miller Herd & Titak Inc. Has $5.37 Million Stake in Tesla, Inc. $TSLA

Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 761.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,916 shares of the electric vehicle producer’s stock after purchasing an additional 14,953 shares during the period. Tesla makes up 0.7% of Thurston Springer Miller Herd & Titak Inc.’s investment portfolio, making the stock its 26th biggest holding. Thurston Springer Miller Herd & Titak Inc.’s holdings in Tesla were worth $5,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC raised its holdings 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 purchasing an additional 44 shares during the period. First PREMIER Bank raised its holdings 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 purchasing an additional 42 shares during the period. Pacific Center for Financial Services raised its holdings in shares of Tesla by 1,616.7% during the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer’s stock valued at $42,000 after purchasing an additional 97 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla during the first quarter valued at about $27,000. Finally, Newton One Investments LLC raised its holdings 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 purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,606 shares of company stock valued at $51,999,662 in the last three months. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSLA shares. The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a report on Sunday, August 17th. Bank of America boosted their target price 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. HSBC reissued a “reduce” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Benchmark reissued a “buy” rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $303.00.

Tesla Trading Up 7.4%

Shares of TSLA stock opened at $395.94 on Friday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. 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 company has a 50-day simple moving average of $328.89 and a two-hundred day simple moving average of $303.57. The company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a PEG ratio of 12.87 and a beta of 2.06.

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

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.