Morse Asset Management Inc Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Morse Asset Management Inc increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 138.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,969 shares of the electric vehicle producer’s stock after acquiring an additional 3,462 shares during the period. Morse Asset Management Inc’s holdings in Tesla were worth $1,181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Atalanta Sosnoff Capital LLC boosted its stake in shares of Tesla by 3.7% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after purchasing an additional 6,575 shares during the period. Newbridge Financial Services Group Inc. boosted its position in Tesla by 7.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after buying an additional 1,943 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Tesla during the first quarter valued at about $1,941,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Tesla during the first quarter worth about $79,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in Tesla by 0.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock valued at $351,166,000 after purchasing an additional 6,034 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $238.25 on Monday. The stock has a market cap of $759.83 billion, a P/E ratio of 60.78, a P/E/G ratio of 6.00 and a beta of 2.29. The firm’s 50-day simple moving average is $221.30 and its 200 day simple moving average is $196.08. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. Equities analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. Argus restated a “buy” rating and set a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Canaccord Genuity Group restated a “buy” rating and issued a $254.00 price target on shares of Tesla in a research note on Friday, September 13th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Thursday, September 5th. Stifel Nicolaus assumed coverage on shares of Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research note on Monday, September 16th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $209.60.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

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.