Asset Allocation & Management Company LLC Invests $202,000 in Tesla, Inc. $TSLA

Asset Allocation & Management Company LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the second quarter, HoldingsChannel reports. The institutional investor acquired 635 shares of the electric vehicle producer’s stock, valued at approximately $202,000.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the period. Bison Wealth LLC grew its position in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the period. Legacy Private Trust Co. raised its holdings in Tesla by 10.4% in the 1st quarter. Legacy Private Trust Co. now owns 6,477 shares of the electric vehicle producer’s stock valued at $1,679,000 after acquiring an additional 610 shares during the last quarter. Finally, Farmers Trust Co. lifted its holdings in Tesla by 10.8% in the first quarter. Farmers Trust Co. now owns 1,249 shares of the electric vehicle producer’s stock valued at $324,000 after acquiring an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 4.0%

TSLA opened at $440.40 on Friday. The firm has a market cap of $1.46 trillion, a PE ratio of 254.57, a price-to-earnings-growth ratio of 15.36 and a beta of 2.06. The firm’s fifty day moving average is $352.05 and its two-hundred day moving average is $314.88. Tesla, Inc. has a twelve month low of $212.11 and a twelve month 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.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The business’s quarterly revenue was down 11.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Mizuho increased their price target on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, September 23rd. China Renaissance reissued a “hold” rating and issued a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Dbs Bank boosted their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $410.00 price objective on shares of Tesla in a report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $332.33.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction 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 owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated 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 owned 5,924 shares in the company, valued at $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,606 shares of company stock valued at $77,360,462. Corporate insiders own 19.90% 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.