Rossby Financial LCC Has $768,000 Holdings in Tesla, Inc. $TSLA

Rossby Financial LCC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 35.0% during the second quarter, HoldingsChannel.com reports. The firm owned 2,418 shares of the electric vehicle producer’s stock after acquiring an additional 627 shares during the quarter. Rossby Financial LCC’s holdings in Tesla were worth $768,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. LGT Financial Advisors LLC bought a new stake in shares of Tesla during the 2nd quarter worth approximately $29,000. Arcadia Investment Management Corp MI bought a new position in Tesla in the 1st quarter valued at approximately $27,000. Chelsea Counsel Co. lifted its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Evergreen Private Wealth LLC lifted its stake in Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares during the last quarter. Finally, Centennial Bank AR lifted its stake in Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 4.3%

TSLA opened at $452.42 on Tuesday. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $400.41 and a 200-day moving average of $342.47. The stock has a market cap of $1.50 trillion, a PE ratio of 301.61, a price-to-earnings-growth ratio of 15.45 and a beta of 2.08.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Dbs Bank increased their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Barclays reissued a “negative” rating and issued a $350.00 price objective (up previously from $275.00) on shares of Tesla in a research note on Thursday, October 16th. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. TD Cowen upped their price target on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Mizuho upped their price target on shares of Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and eleven have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $381.00.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, 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 sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is owned by company insiders.

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.