Paul R. Ried Financial Group LLC Makes New $205,000 Investment in Tesla, Inc. $TSLA

Paul R. Ried Financial Group LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 644 shares of the electric vehicle producer’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chelsea Counsel Co. increased its position in shares of 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 purchasing an additional 40 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in Tesla during the 2nd quarter worth approximately $29,000. Evergreen Private Wealth LLC increased its position in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares during the period. Glynn Capital Management LLC purchased a new stake in Tesla in the second quarter valued at approximately $35,000. Finally, Pacific Center for Financial Services boosted its holdings in shares of Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after acquiring an additional 46 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TSLA shares. BNP Paribas Exane initiated coverage on shares of Tesla in a research report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price target for the company. Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a report on Monday, October 13th. Mizuho raised their price target on Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. President Capital boosted their price target on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Canaccord Genuity Group decreased their price objective on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $393.61.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $404.35 on Friday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a 50-day moving average price of $429.67 and a 200 day moving average price of $360.78. The company has a market cap of $1.34 trillion, a P/E ratio of 269.57, a PEG ratio of 16.84 and a beta of 2.06. 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 (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were 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 $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by company insiders.

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.