Chris Bulman Inc Purchases 109 Shares of Tesla, Inc. (NASDAQ:TSLA)

Chris Bulman Inc raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.0% during the third quarter, HoldingsChannel reports. The fund owned 3,704 shares of the electric vehicle producer’s stock after acquiring an additional 109 shares during the quarter. Chris Bulman Inc’s holdings in Tesla were worth $969,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bank & Trust Co purchased a new stake in Tesla in the second quarter worth about $25,000. Clean Yield Group increased its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the period. Valley Wealth Managers Inc. acquired a new position in Tesla in the 2nd quarter worth approximately $26,000. Finally, M&R Capital Management Inc. increased its holdings in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $217.39 on Wednesday. The company’s fifty day simple moving average is $228.30 and its 200-day simple moving average is $206.36. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market cap of $693.30 billion, a PE ratio of 55.60, a P/E/G ratio of 6.31 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its 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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the business posted $0.78 EPS. The business’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were 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 approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related 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 sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, 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 accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TSLA shares. Citigroup lowered their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Royal Bank of Canada raised their target price on Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, HSBC reiterated a “reduce” rating and set a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $211.63.

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.