Retirement Guys Formula LLC Increases Holdings in Tesla, Inc. $TSLA

Retirement Guys Formula LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 960 shares of the electric vehicle producer’s stock after purchasing an additional 129 shares during the quarter. Retirement Guys Formula LLC’s holdings in Tesla were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank lifted its position in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC boosted its stake in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla during the first quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. raised its stake in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TSLA shares. Stifel Nicolaus set a $440.00 target price on Tesla in a research report on Friday, September 5th. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Guggenheim reiterated a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group lifted their price objective on shares of Tesla from $300.00 to $395.00 and gave the stock a “neutral” rating in a research report on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $326.74.

Tesla Stock Down 4.4%

TSLA stock opened at $423.39 on Friday. The stock has a market capitalization of $1.41 trillion, a PE ratio of 244.73, a price-to-earnings-growth ratio of 15.45 and a beta of 2.06. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $349.83 and a 200 day moving average of $312.97.

Tesla (NASDAQ:TSLA) last posted its quarterly 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% 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 James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by company insiders.

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.