Mascoma Wealth Management LLC Acquires 37 Shares of Tesla, Inc. $TSLA

Mascoma Wealth Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 740 shares of the electric vehicle producer’s stock after acquiring an additional 37 shares during the period. Mascoma Wealth Management LLC’s holdings in Tesla were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Simplicity Wealth LLC increased its holdings in Tesla by 20.8% in the second quarter. Simplicity Wealth LLC now owns 36,675 shares of the electric vehicle producer’s stock valued at $11,650,000 after purchasing an additional 6,326 shares during the last quarter. OLD National Bancorp IN grew its position in shares of Tesla by 4.9% during the 2nd quarter. OLD National Bancorp IN now owns 15,172 shares of the electric vehicle producer’s stock worth $4,820,000 after buying an additional 709 shares during the period. Olistico Wealth LLC increased its stake in shares of Tesla by 1,137.3% in the 2nd quarter. Olistico Wealth LLC now owns 631 shares of the electric vehicle producer’s stock valued at $200,000 after acquiring an additional 580 shares during the last quarter. MBL Wealth LLC raised its position in shares of Tesla by 113.5% in the 2nd quarter. MBL Wealth LLC now owns 13,147 shares of the electric vehicle producer’s stock valued at $4,176,000 after acquiring an additional 6,990 shares during the period. Finally, Sutton Place Investors LLC boosted its stake in Tesla by 21.6% during the 2nd quarter. Sutton Place Investors LLC now owns 3,487 shares of the electric vehicle producer’s stock worth $1,108,000 after acquiring an additional 620 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s 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 transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was 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 valued at $75,588,902 in the last three months. 19.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $410.00 target price on shares of Tesla in a research note on Thursday, October 2nd. Argus restated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. The Goldman Sachs Group lifted their target price on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Finally, Dbs Bank raised their price target on Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $344.40.

Tesla Stock Up 5.4%

TSLA stock opened at $453.25 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market capitalization of $1.51 trillion, a P/E ratio of 261.99, a P/E/G ratio of 14.93 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The business has a 50-day moving average of $366.57 and a 200-day moving average of $324.02.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The company’s revenue was down 11.8% on a year-over-year basis. On average, 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.