Cumberland Partners Ltd Makes New $238,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Cumberland Partners Ltd bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 909 shares of the electric vehicle producer’s stock, valued at approximately $238,000.

Other large investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter worth approximately $29,000. Bank & Trust Co bought a new position in shares of Tesla in the 2nd quarter worth approximately $25,000. Clean Yield Group lifted its position in 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 purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. purchased a new stake in Tesla in the 2nd quarter worth $26,000. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TSLA shares. Phillip Securities raised shares of Tesla to a “moderate sell” rating in a research note on Friday, October 25th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Canaccord Genuity Group lifted their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Finally, Piper Sandler increased their price target on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $225.06.

Tesla Price Performance

Tesla stock opened at $328.49 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 90.00, a P/E/G ratio of 11.37 and a beta of 2.29. The business’s 50-day simple moving average is $243.90 and its 200 day simple moving average is $217.03.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. 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 the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,797 shares of company stock valued at $19,211,821. Corporate insiders own 20.70% of the company’s stock.

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.