Cumberland Partners Ltd Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Cumberland Partners Ltd bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 909 shares of the electric vehicle producer’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its holdings in Tesla by 0.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after purchasing an additional 331 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Tesla in the 1st quarter valued at approximately $1,941,000. Dearborn Partners LLC boosted its position in shares of Tesla by 13.2% during the first quarter. Dearborn Partners LLC now owns 2,817 shares of the electric vehicle producer’s stock valued at $495,000 after purchasing an additional 328 shares in the last quarter. Charles Schwab Investment Advisory Inc. raised its holdings in Tesla by 25.7% in the first quarter. Charles Schwab Investment Advisory Inc. now owns 5,431 shares of the electric vehicle producer’s stock worth $955,000 after purchasing an additional 1,112 shares in the last quarter. Finally, TBH Global Asset Management LLC lifted its position in Tesla by 44.9% during the first quarter. TBH Global Asset Management LLC now owns 4,235 shares of the electric vehicle producer’s stock valued at $744,000 after buying an additional 1,313 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,797 shares of company stock worth $19,211,821. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Down 6.1 %

Shares of NASDAQ:TSLA opened at $328.49 on Wednesday. The stock has a market capitalization of $1.05 trillion, a P/E ratio of 90.00, a PEG ratio of 11.37 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. The stock has a 50-day simple moving average of $243.90 and a 200-day simple moving average of $217.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the company posted $0.53 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TSLA shares. Stifel Nicolaus boosted their price objective on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Phillip Securities upgraded shares of Tesla to a “moderate sell” rating in a research note on Friday, October 25th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. HSBC reiterated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $225.06.

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.