Milestone Asset Management LLC Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Milestone Asset Management LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 39.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,528 shares of the electric vehicle producer’s stock after acquiring an additional 1,279 shares during the quarter. Milestone Asset Management LLC’s holdings in Tesla were worth $896,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Integris Wealth Management LLC increased its position in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after buying an additional 42 shares during the last quarter. Echo Wealth Management LLC boosted its holdings in shares of Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the period. WASHINGTON TRUST Co boosted its holdings in shares of Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after acquiring an additional 45 shares during the period. Keystone Wealth Services LLC boosted its holdings in shares of Tesla by 0.8% in the second quarter. Keystone Wealth Services LLC now owns 5,993 shares of the electric vehicle producer’s stock worth $1,186,000 after acquiring an additional 49 shares during the period. Finally, West Paces Advisors Inc. boosted its holdings in shares of Tesla by 5.9% in the second quarter. West Paces Advisors Inc. now owns 901 shares of the electric vehicle producer’s stock worth $178,000 after acquiring an additional 50 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 3.1 %

Shares of TSLA traded up $6.60 during trading hours on Monday, hitting $222.72. The company had a trading volume of 76,336,683 shares, compared to its average volume of 99,174,625. The firm has a market cap of $710.30 billion, a P/E ratio of 56.31, a P/E/G ratio of 5.22 and a beta of 2.31. The stock’s 50 day moving average price is $215.14 and its 200 day moving average price is $190.99. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts predict that Tesla, Inc. will post 1.79 EPS for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now 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 owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on TSLA. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Monday, July 29th. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a report on Wednesday, July 24th. Glj Research raised their price target on Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Finally, UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $204.21.

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.