TruNorth Capital Management LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

TruNorth Capital Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3,902.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,801 shares of the electric vehicle producer’s stock after purchasing an additional 1,756 shares during the period. TruNorth Capital Management LLC’s holdings in Tesla were worth $467,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC grew its stake in Tesla by 86.3% during the first 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 in the last quarter. First PREMIER Bank lifted its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC lifted its holdings 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 worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC raised its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 1.2%

NASDAQ TSLA opened at $313.51 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $322.60 and a two-hundred day moving average of $320.26. The firm has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 172.26, a PEG ratio of 9.33 and a beta of 2.39. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the firm earned $0.45 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TSLA shares. William Blair lowered shares of Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, July 7th. The Goldman Sachs Group decreased their price target on shares of Tesla from $315.00 to $285.00 and set a “neutral” rating for the company in a research note on Friday. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Finally, Raymond James Financial cut shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $300.19.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director directly owned 855,394 shares of the company’s stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock valued at $279,420,485 over the last ninety days. Company insiders own 20.70% of the company’s stock.

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.