Tesla, Inc. $TSLA Position Increased by IFP Advisors Inc

IFP Advisors Inc increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,704 shares of the electric vehicle producer’s stock after acquiring an additional 1,613 shares during the period. IFP Advisors Inc’s holdings in Tesla were worth $6,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC raised its holdings in shares of Tesla by 86.3% during the first 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 increased its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC increased its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla during the first quarter worth $27,000. Finally, Chelsea Counsel Co. increased its position in Tesla by 59.7% during 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 during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 5.1%

Tesla stock opened at $413.49 on Friday. The business has a 50 day moving average price of $375.97 and a two-hundred day moving average price of $327.51. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a price-to-earnings-growth ratio of 15.81 and a beta of 2.08.

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

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Dbs Bank increased their target price on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Wedbush increased their target price on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday, September 26th. TD Cowen increased their target price on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $355.00 price target on shares of Tesla in a research report on Friday, October 3rd. Finally, Royal Bank Of Canada raised their price target on Tesla from $325.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $354.67.

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. 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.