Financial Harvest LLC Takes Position in Tesla, Inc. $TSLA

Key Points

• Financial Harvest LLC acquired 1,188 shares of Tesla, valued at approximately $377,000, marking its new position in the company during Q2.
• Director James R. Murdoch sold 60,000 shares of Tesla for about $25.36 million, indicating an 8.61% decrease in his ownership.
• Institutional investors now own 66.20% of Tesla shares, with varied analyst ratings, including a "reduce" rating from HSBC and a "buy" rating from Canaccord Genuity Group.

Financial Harvest LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,188 shares of the electric vehicle producer's stock, valued at approximately $377,000.

A number of other institutional investors also recently bought and sold shares of the company. Acorn Wealth Advisors LLC increased its position in Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after buying an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd boosted its holdings in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after purchasing an additional 36 shares during the period. ACT Wealth Management LLC boosted its holdings in shares of Tesla by 0.7% in the 2nd quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer's stock worth $1,717,000 after purchasing an additional 36 shares during the period. Capital Management Associates Inc lifted its stake in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after acquiring an additional 38 shares during the last quarter. Finally, Graney & King LLC raised its position in Tesla by 18.4% during the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock valued at $63,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Trading Up 1.9%

Shares of Tesla stock traded up $8.14 during trading hours on Monday, reaching $434.21. 96,526,944 shares of the company's stock were exchanged, compared to its average volume of 86,280,128. The firm has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 250.99, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $343.03 and a 200-day moving average of $309.87. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The company's quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on TSLA shares. Mizuho dropped their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Morgan Stanley reissued an "overweight" rating and set a $410.00 target price on shares of Tesla in a research note on Friday, September 5th. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. CICC Research lifted their price target on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Dbs Bank boosted their target price on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $324.53.

Insider Activity at Tesla

In related news, 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 value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 208,606 shares of company stock worth $77,360,462. Corporate insiders own 19.90% of the company's stock.

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.