Tesla, Inc. $TSLA Shares Acquired by Apexium Financial LP

Apexium Financial LP increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.4% during the first quarter, HoldingsChannel.com reports. The fund owned 3,050 shares of the electric vehicle producer’s stock after buying an additional 263 shares during the period. Apexium Financial LP’s holdings in Tesla were worth $790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC increased its stake in Tesla by 13.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,065 shares of the electric vehicle producer’s stock valued at $4,164,000 after buying an additional 1,849 shares during the period. Freedom Investment Management Inc. increased its stake in Tesla by 9.2% in the 1st quarter. Freedom Investment Management Inc. now owns 8,130 shares of the electric vehicle producer’s stock valued at $2,107,000 after buying an additional 687 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Tesla in the 1st quarter valued at $885,000. Synovus Financial Corp increased its stake in Tesla by 11.1% in the 1st quarter. Synovus Financial Corp now owns 28,485 shares of the electric vehicle producer’s stock valued at $7,382,000 after buying an additional 2,841 shares during the period. Finally, ICONIQ Capital LLC increased its stake in Tesla by 3.2% in the 1st quarter. ICONIQ Capital LLC now owns 12,042 shares of the electric vehicle producer’s stock valued at $3,121,000 after buying an additional 368 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 6.2%

Shares of TSLA stock opened at $340.01 on Monday. The firm’s 50-day simple moving average is $321.27 and its 200-day simple moving average is $302.58. The firm has a market cap of $1.10 trillion, a P/E ratio of 196.54, a PEG ratio of 11.82 and a beta of 2.33. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock worth $213,126,501 in the last quarter. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. Royal Bank Of Canada reaffirmed an “overweight” rating on shares of Tesla in a research note on Tuesday, July 29th. Glj Research reaffirmed a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. HSBC restated a “reduce” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. Finally, Baird R W downgraded shares of Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $303.31.

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.