861 Shares in Tesla, Inc. $TSLA Bought by Smart Money Group LLC

Smart Money Group LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, Holdings Channel reports. The institutional investor bought 861 shares of the electric vehicle producer’s stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. LGT Financial Advisors LLC bought a new position in shares of Tesla during the 2nd quarter valued at $29,000. 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. Evergreen Private Wealth LLC raised its holdings in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 81 shares in the last quarter. Maseco LLP acquired a new stake in shares of Tesla in the second quarter worth about $39,000. Finally, Morton Brown Family Wealth LLC boosted its stake in shares of Tesla by 36.0% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 136 shares of the electric vehicle producer’s stock worth $43,000 after acquiring an additional 36 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by company insiders.

Tesla Trading Down 3.5%

Tesla stock opened at $445.91 on Friday. The business has a 50 day moving average price of $419.05 and a two-hundred day moving average price of $353.32. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 297.27, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TSLA. DZ Bank restated a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. New Street Research lifted their price target on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. China Renaissance upped their price objective on shares of Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a report on Friday, October 24th. Benchmark reiterated a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. 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 report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $391.08.

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.