GGM Financials LLC Buys Shares of 963 Tesla, Inc. $TSLA

GGM Financials LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 963 shares of the electric vehicle producer’s stock, valued at approximately $306,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Merchants Corp lifted its holdings in shares of Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after buying an additional 31 shares during the period. Alaska Wealth Advisors lifted its holdings in shares of Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after buying an additional 32 shares during the period. KWB Wealth lifted its holdings in shares of Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after buying an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. lifted its holdings in shares of Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after buying an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. lifted its holdings in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after buying an additional 34 shares during the period. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TSLA shares. Wall Street Zen raised Tesla from a “sell” rating to a “hold” rating in a report on Saturday. Melius assumed coverage on Tesla in a report on Monday, October 13th. They issued a “buy” rating and a $520.00 target price on the stock. DZ Bank reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. Finally, Benchmark reaffirmed a “buy” rating on shares of Tesla in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have issued a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $381.00.

Tesla Trading Up 4.3%

Shares of TSLA stock opened at $452.42 on Tuesday. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market capitalization of $1.50 trillion, a PE ratio of 301.61, a PEG ratio of 15.45 and a beta of 2.08. The stock has a fifty day simple moving average of $400.41 and a two-hundred day simple moving average of $342.47.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the prior year, the business posted $0.72 EPS. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

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.