Folger Nolan Fleming Douglas Capital Management Inc. Invests $234,000 in Tesla, Inc. $TSLA

Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 737 shares of the electric vehicle producer’s stock, valued at approximately $234,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after purchasing an additional 849,091 shares during the last quarter. Amundi increased its position in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after buying an additional 2,211,300 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last quarter. 19.90% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of TSLA opened at $413.49 on Monday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 14.92 and a beta of 2.08. The company’s 50 day simple moving average is $375.97 and its 200-day simple moving average is $328.28.

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

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. HSBC increased their price objective on Tesla from $120.00 to $127.00 in a report on Monday, September 29th. Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. William Blair reiterated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Finally, TD Cowen increased their target price on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $354.67.

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.