Johnson Bixby & Associates LLC Has $754,000 Stock Position in Tesla, Inc. $TSLA

Johnson Bixby & Associates LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,373 shares of the electric vehicle producer’s stock after purchasing an additional 108 shares during the quarter. Johnson Bixby & Associates LLC’s holdings in Tesla were worth $754,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. KWB Wealth lifted its stake in shares of Tesla by 2.4% in the second 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. Consolidated Capital Management LLC bought a new position in shares of Tesla during the second quarter valued at $323,000. Chatham Capital Group Inc. acquired a new stake in shares of Tesla during the second quarter worth approximately $202,000. SFM LLC acquired a new stake in Tesla during the 2nd quarter valued at $216,000. Finally, Michels Family Financial LLC raised its position in Tesla by 5.0% in the 2nd quarter. Michels Family Financial LLC now owns 2,604 shares of the electric vehicle producer’s stock valued at $827,000 after purchasing an additional 123 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was 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. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,606 shares of company stock valued at $77,360,462. Company insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Canaccord Genuity Group lifted their price target on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, July 24th. HSBC reissued a “reduce” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Bank of America lifted their target price on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Mizuho upped their price target on Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, September 23rd. Finally, Argus reiterated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $332.33.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $440.40 on Monday. The firm’s 50 day simple moving average is $352.05 and its 200 day simple moving average is $315.40. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 254.57, a P/E/G ratio of 15.36 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during 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 firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.