Capital Investment Counsel Inc Buys 195 Shares of Tesla, Inc. (NASDAQ:TSLA)

Capital Investment Counsel Inc lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,954 shares of the electric vehicle producer’s stock after acquiring an additional 195 shares during the quarter. Capital Investment Counsel Inc’s holdings in Tesla were worth $585,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bank & Trust Co purchased a new stake in shares of Tesla during the 2nd quarter worth approximately $25,000. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter valued at $37,000. Kessler Investment Group LLC raised its holdings in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the period. Aspect Partners LLC raised its holdings in Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the period. Finally, Kathleen S. Wright Associates Inc. raised its holdings in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Wednesday, April 24th. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Finally, China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a report on Friday, July 5th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $204.21.

Tesla Trading Down 0.7 %

NASDAQ TSLA traded down $1.62 on Tuesday, reaching $221.10. 73,862,424 shares of the company were exchanged, compared to its average volume of 89,918,896. The business’s fifty day moving average price is $217.13 and its 200 day moving average price is $191.47. The stock has a market capitalization of $706.33 billion, a P/E ratio of 56.40, a price-to-earnings-growth ratio of 5.60 and a beta of 2.31. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98.

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