55,888 Shares in Tesla, Inc. $TSLA Purchased by Abner Herrman & Brock LLC

Key Points

• Abner Herrman & Brock LLC acquired 55,888 shares of Tesla, valued at approximately $17.75 million, making it the firm's 26th largest position.
• Tesla reported Q2 earnings of $0.40 per share, missing estimates by $0.03, with revenue of $22.50 billion, a decline of 11.8% from the previous year.
• Insider sales included 120,000 shares sold by Director James R. Murdoch, reducing his ownership by 14.69%.

Abner Herrman & Brock LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 55,888 shares of the electric vehicle producer's stock, valued at approximately $17,753,000. Tesla accounts for approximately 2.0% of Abner Herrman & Brock LLC's investment portfolio, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Goldman Sachs Group Inc. grew its holdings in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC bought a new stake in shares of Tesla during the first quarter worth approximately $3,247,619,000. GAMMA Investing LLC boosted its holdings in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the period. Amundi boosted its holdings in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA opened at $395.94 on Friday. The firm's fifty day moving average price is $328.89 and its two-hundred day moving average price is $303.57. The stock has a market cap of $1.28 trillion, a PE ratio of 228.87, a PEG ratio of 12.87 and a beta of 2.06. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were 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 of the company's stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on 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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,606 shares of company stock valued at $51,999,662. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research analyst reports. William Blair restated a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Morgan Stanley restated an "overweight" rating and set a $410.00 price objective on shares of Tesla in a report on Friday, September 5th. Mizuho dropped their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. China Renaissance reiterated a "hold" rating and issued a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Finally, HSBC reiterated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of "Hold" and an average target price of $303.00.

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.

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