Cedar Mountain Advisors LLC Boosts Stock Position in Tesla, Inc. $TSLA

Cedar Mountain Advisors LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,746 shares of the electric vehicle producer’s stock after acquiring an additional 111 shares during the quarter. Cedar Mountain Advisors LLC’s holdings in Tesla were worth $872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank grew its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla during the 1st quarter worth $27,000. Newton One Investments LLC grew its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. grew its stake in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last three months. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group set a $247.00 price objective on Tesla in a research note on Monday. CICC Research upped their price objective on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Glj Research restated a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. HSBC upped their price objective on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Finally, Wedbush increased their price target on Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $344.40.

Tesla Trading Down 4.4%

Shares of Tesla stock opened at $433.09 on Wednesday. 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 firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 250.34, a price-to-earnings-growth ratio of 15.75 and a beta of 2.08. The business has a fifty day simple moving average of $368.81 and a 200-day simple moving average of $324.77. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS 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.