Affiance Financial LLC Acquires 53 Shares of Tesla, Inc. (NASDAQ:TSLA)

Affiance Financial LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,644 shares of the electric vehicle producer’s stock after buying an additional 53 shares during the quarter. Tesla accounts for about 0.8% of Affiance Financial LLC’s investment portfolio, making the stock its 27th largest holding. Affiance Financial LLC’s holdings in Tesla were worth $1,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Tesla by 0.7% during the 1st quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock worth $20,680,162,000 after buying an additional 685,454 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tesla by 1.9% in the first quarter. Geode Capital Management LLC now owns 50,047,967 shares of the electric vehicle producer’s stock worth $10,358,912,000 after acquiring an additional 938,216 shares during the last quarter. FMR LLC boosted its stake in shares of Tesla by 3.9% in the 1st quarter. FMR LLC now owns 33,326,389 shares of the electric vehicle producer’s stock valued at $6,913,893,000 after purchasing an additional 1,244,230 shares in the last quarter. Norges Bank acquired a new position in Tesla during the 4th quarter worth approximately $3,459,540,000. Finally, Moneta Group Investment Advisors LLC lifted its stake in Tesla by 180,125.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after purchasing an additional 26,836,879 shares during the last quarter. Institutional investors own 41.87% of the company’s stock.

Tesla Stock Down 3.3 %

Shares of NASDAQ TSLA opened at $265.28 on Tuesday. The firm has a market cap of $842.00 billion, a P/E ratio of 75.15, a price-to-earnings-growth ratio of 4.28 and a beta of 2.09. The firm’s 50 day moving average price is $255.83 and its 200 day moving average price is $220.81. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $313.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The company had revenue of $24.93 billion for 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%. Tesla’s revenue was up 47.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 3rd. TD Cowen boosted their price objective on Tesla from $150.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, July 20th. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating in a report on Monday, June 12th. Guggenheim reiterated a “sell” rating and issued a $125.00 price objective on shares of Tesla in a research note on Monday. Finally, Sanford C. Bernstein reiterated an “underperform” rating and set a $150.00 price target on shares of Tesla in a research note on Thursday, July 20th. Six equities research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $239.43.

Insider Activity

In other news, CFO Zachary Kirkhorn sold 3,750 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the transaction, the chief financial officer now owns 197,540 shares of the company’s stock, valued at $55,054,398. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Zachary Kirkhorn sold 3,750 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the sale, the chief financial officer now owns 197,540 shares in the company, valued at $55,054,398. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the senior vice president now owns 66,834 shares of the company’s stock, valued at approximately $16,249,350.42. The disclosure for this sale can be found here. In the last three months, insiders sold 55,815 shares of company stock worth $14,384,135. 20.90% of the stock is currently owned by insiders.

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.