Ignite Planners LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Ignite Planners LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,343 shares of the electric vehicle producer’s stock after purchasing an additional 771 shares during the period. Tesla makes up 1.9% of Ignite Planners LLC’s investment portfolio, making the stock its 8th biggest holding. Ignite Planners LLC’s holdings in Tesla were worth $5,034,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TSLA. Biltmore Wealth Management LLC acquired a new position in Tesla during the second quarter valued at approximately $755,000. WJ Wealth Management LLC acquired a new position in Tesla in the 2nd quarter valued at $281,000. Affiance Financial LLC raised its holdings in Tesla by 0.8% in the 2nd quarter. Affiance Financial LLC now owns 6,644 shares of the electric vehicle producer’s stock worth $1,739,000 after acquiring an additional 53 shares during the period. Ullmann Wealth Partners Group LLC acquired a new position in Tesla during the 2nd quarter worth $239,000. Finally, Capital Advisors Wealth Management LLC boosted its holdings in Tesla by 35.7% during the second quarter. Capital Advisors Wealth Management LLC now owns 2,132 shares of the electric vehicle producer’s stock valued at $558,000 after acquiring an additional 561 shares during the period. 41.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TSLA. The Goldman Sachs Group reissued a “neutral” rating and set a $275.00 price objective on shares of Tesla in a research report on Monday. Citigroup increased their price objective on Tesla from $215.00 to $278.00 and gave the company a “neutral” rating in a research report on Wednesday, July 12th. Guggenheim reaffirmed a “sell” rating and set a $125.00 target price on shares of Tesla in a research report on Monday. Mizuho increased their price target on shares of Tesla from $300.00 to $330.00 in a report on Thursday, July 20th. Finally, Barclays lowered shares of Tesla from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $260.00 in a research report on Wednesday, June 21st. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $239.43.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 1,065 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total transaction of $265,845.30. Following the completion of the transaction, the senior vice president now owns 59,540 shares in the company, valued at $14,862,374.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Xiaotong Zhu sold 1,065 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total value of $265,845.30. Following the sale, the senior vice president now directly owns 59,540 shares of the company’s stock, valued at approximately $14,862,374.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated 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 approximately $16,249,350.42. The disclosure for this sale can be found here. Insiders have sold 55,815 shares of company stock worth $14,384,135 in the last three months. Insiders own 20.90% of the company’s stock.

Tesla Price Performance

TSLA opened at $265.28 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07. The stock has a market capitalization 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 company’s 50 day simple moving average is $255.83 and its 200-day simple moving average is $220.81. Tesla, Inc. has a one year low of $101.81 and a one year high of $313.80.

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

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. 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.