Pegasus Asset Management Inc. Has $785,000 Holdings in Tesla, Inc. $TSLA

Pegasus Asset Management Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,472 shares of the electric vehicle producer’s stock after acquiring an additional 46 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Tesla were worth $785,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Cherry Tree Wealth Management LLC lifted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank lifted its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC raised its position in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the 1st quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. raised its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, July 24th. HSBC raised their price objective on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tesla in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $355.00 price target on shares of Tesla in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $363.03.

Insider Activity

In other Tesla news, Director James R. Murdoch sold 60,000 shares of Tesla 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 in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Stock Up 5.4%

Shares of Tesla stock opened at $435.90 on Tuesday. The business’s 50 day simple moving average is $378.50 and its 200 day simple moving average is $329.48. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm has a market cap of $1.45 trillion, a PE ratio of 251.97, a P/E/G ratio of 14.92 and a beta of 2.08. 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 announced its earnings results 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 firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business posted $0.52 EPS. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, analysts predict 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.