Abbot Financial Management Inc. Purchases 321 Shares of Tesla, Inc. (NASDAQ:TSLA)

Abbot Financial Management Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,853 shares of the electric vehicle producer’s stock after purchasing an additional 321 shares during the quarter. Abbot Financial Management Inc.’s holdings in Tesla were worth $565,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Atalanta Sosnoff Capital LLC boosted its holdings in shares of Tesla by 3.7% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after purchasing an additional 6,575 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after purchasing an additional 1,943 shares during the period. Entropy Technologies LP purchased a new position in shares of Tesla during the first quarter valued at $1,941,000. Future Financial Wealth Managment LLC bought a new stake in shares of Tesla in the 1st quarter valued at about $79,000. Finally, Public Employees Retirement System of Ohio boosted its position in Tesla by 0.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock valued at $351,166,000 after acquiring an additional 6,034 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TSLA shares. Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Tesla in a research report on Monday, August 19th. Mizuho boosted their price target on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and lifted their target price for the company from $147.00 to $197.00 in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Finally, William Blair began coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $209.60.

Tesla Price Performance

Shares of TSLA stock opened at $226.78 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a market capitalization of $723.25 billion, a PE ratio of 57.85, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. The firm’s 50-day moving average is $222.85 and its two-hundred day moving average is $194.75. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $273.93.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

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.