Beech Hill Advisors Inc. Acquires Shares of 895 Tesla, Inc. (NASDAQ:TSLA)

Beech Hill Advisors Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 895 shares of the electric vehicle producer’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Lakewood Asset Management LLC purchased a new position in Tesla in the 4th quarter worth approximately $25,000. Alpha Paradigm Partners LLC purchased a new stake in Tesla during the 3rd quarter valued at $27,000. GW&K Investment Management LLC bought a new stake in shares of Tesla during the 1st quarter valued at $30,000. MayTech Global Investments LLC bought a new stake in shares of Tesla during the 4th quarter valued at $30,000. Finally, St. Johns Investment Management Company LLC boosted its holdings in Tesla by 451.9% in the 1st quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after buying an additional 122 shares during the period. 41.87% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total value of $2,552,865.00. Following the completion of the sale, the senior vice president now directly owns 66,834 shares in the company, valued at $16,249,350.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the completion of the sale, the senior vice president now directly owns 66,834 shares in the company, valued at $16,249,350.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 1,065 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total transaction of $265,845.30. Following the sale, the senior vice president now owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The disclosure for this sale can be found here. Insiders sold a total of 55,815 shares of company stock worth $14,384,135 over the last ninety days. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $274.39 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $255.83 and a two-hundred day moving average price of $220.81. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $313.80. The company has a market capitalization of $870.91 billion, a P/E ratio of 77.73, a price-to-earnings-growth ratio of 4.30 and a beta of 2.09.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The business had revenue of $24.93 billion during the quarter, compared to the consensus estimate of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The company’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent analyst reports. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating in a report on Monday, June 12th. Sanford C. Bernstein restated an “underperform” rating and set a $150.00 target price on shares of Tesla in a research report on Thursday, July 20th. Citigroup upped their target price on shares of Tesla from $215.00 to $278.00 and gave the company a “neutral” rating in a research report on Wednesday, July 12th. Wells Fargo & Company upped their target price on shares of Tesla from $170.00 to $265.00 and gave the company an “equal weight” rating in a research report on Monday, July 17th. Finally, The Goldman Sachs Group upped their target price on shares of Tesla from $248.00 to $275.00 and gave the company a “neutral” rating in a research report on Monday, July 3rd. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $239.43.

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. It 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, retail merchandise, and vehicle insurance services.