Jmac Enterprises LLC Invests $215,000 in Tesla, Inc. $TSLA

Jmac Enterprises LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 678 shares of the electric vehicle producer’s stock, valued at approximately $215,000.

Other hedge funds also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% during the 1st 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 last quarter. First PREMIER Bank grew its holdings in Tesla by 79.2% during the 1st 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 last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla during the 1st quarter valued at about $27,000. Newton One Investments LLC grew its holdings in Tesla by 250.0% during the 1st 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 last quarter. Finally, Chelsea Counsel Co. grew its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a research note on Saturday, September 27th. Bank of America upped their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $355.00 target price on shares of Tesla in a research note on Friday. Piper Sandler upped their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, September 22nd. Finally, UBS Group restated a “sell” rating and issued a $215.00 target price on shares of Tesla in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $343.43.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 over the last 90 days. Insiders own 19.90% of the company’s stock.

Tesla Trading Down 1.4%

NASDAQ:TSLA opened at $429.83 on Friday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The firm has a 50 day moving average of $364.02 and a 200 day moving average of $321.39. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 248.46, a PEG ratio of 15.15 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the previous year, the company earned $0.52 EPS. The company’s revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.