Circle Wealth Management LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Circle Wealth Management LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 50.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,318 shares of the electric vehicle producer’s stock after acquiring an additional 7,193 shares during the period. Circle Wealth Management LLC’s holdings in Tesla were worth $4,218,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank & Trust Co purchased a new position in shares of Tesla during the second quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla in the 2nd quarter valued at $26,000. OLD Point Trust & Financial Services N A purchased a new position in Tesla in the 4th quarter valued at $37,000. Kessler Investment Group LLC grew its position in Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the last quarter. Finally, Aspect Partners LLC grew its position in Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TSLA shares. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research report on Friday, July 5th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, June 10th. TD Cowen boosted their target price on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, KGI Securities restated a “neutral” rating and set a $236.00 target price on shares of Tesla in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $209.60.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Tesla Stock Down 2.3 %

TSLA opened at $238.25 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock has a market capitalization of $759.83 billion, a price-to-earnings ratio of 60.78, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29. The business has a 50-day moving average of $221.30 and a two-hundred day moving average of $195.94. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00.

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

Tesla Company 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.