Curbstone Financial Management Corp Acquires Shares of 1,796 Tesla, Inc. (NASDAQ:TSLA)

Curbstone Financial Management Corp acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,796 shares of the electric vehicle producer’s stock, valued at approximately $470,000.

A number of other institutional investors have also modified their holdings of the stock. Integris Wealth Management LLC increased its stake in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares in the last quarter. Echo Wealth Management LLC increased its stake in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares in the last quarter. WASHINGTON TRUST Co increased its stake in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares in the last quarter. Bellevue Asset Management LLC increased its stake in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares in the last quarter. Finally, Cypress Capital Group increased its stake in Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.9 %

Shares of Tesla stock traded up $9.42 during trading hours on Friday, reaching $250.08. 86,726,285 shares of the company were exchanged, compared to its average volume of 81,772,848. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The stock’s fifty day moving average is $224.00 and its 200 day moving average is $201.39. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market cap of $798.92 billion, a PE ratio of 63.80, a PEG ratio of 6.79 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the company posted $0.78 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 1.74 earnings per share for the current year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Thursday, September 26th. William Blair assumed coverage on Tesla in a research note on Thursday, August 29th. They set an “outperform” rating for the company. Piper Sandler boosted their price objective on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Mizuho boosted their target price on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, UBS Group cut Tesla from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $210.54.

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.