Citizens Financial Group Inc. RI Purchases 9,537 Shares of Tesla, Inc. $TSLA

Citizens Financial Group Inc. RI increased its position in Tesla, Inc. (NASDAQ:TSLA) by 13.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,777 shares of the electric vehicle producer’s stock after buying an additional 9,537 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Tesla were worth $25,977,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC increased its holdings in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC raised its position in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Patton Albertson Miller Group LLC lifted its holdings in Tesla by 12.9% in the 1st quarter. Patton Albertson Miller Group LLC now owns 1,229 shares of the electric vehicle producer’s stock worth $319,000 after buying an additional 140 shares during the period. Finally, Mystic Asset Management Inc. grew its position in shares of Tesla by 5.8% in the 1st quarter. Mystic Asset Management Inc. now owns 1,280 shares of the electric vehicle producer’s stock worth $332,000 after buying an additional 70 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

TSLA stock opened at $404.35 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The company has a market cap of $1.34 trillion, a P/E ratio of 269.57, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The stock’s fifty day moving average price is $429.67 and its 200-day moving average price is $360.78.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during 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 revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s 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 sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Industrial Alliance Securities set a $300.00 price target on shares of Tesla in a research report on Monday, October 13th. TD Cowen raised their price objective on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Finally, Roth Capital set a $505.00 price objective on Tesla and gave the company a “buy” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $393.61.

Tesla 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.