678 Shares in Tesla, Inc. $TSLA Acquired by Jmac Enterprises LLC

Key Points

• Jmac Enterprises LLC acquired 678 shares of Tesla, valued at approximately $215,000, during the second quarter, as disclosed in the firm's latest 13F filing.
• Insider trading activities include Xiaotong Zhu, SVP, selling 20,000 shares for $7.3 million, while CFO Vaibhav Taneja sold 2,606 shares amounting to $918,302, indicating significant decreases in their respective holdings.
• Tesla's recent quarterly earnings showed earnings per share (EPS) of $0.40, missing analysts' expectations, with revenues down 11.8% year-over-year.

Jmac Enterprises LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 678 shares of the electric vehicle producer's stock, valued at approximately $215,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cornell Pochily Investment Advisors Inc. boosted its holdings in Tesla by 3.4% in the second quarter. Cornell Pochily Investment Advisors Inc. now owns 4,132 shares of the electric vehicle producer's stock worth $1,312,000 after purchasing an additional 135 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Tesla by 8.5% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 15,229 shares of the electric vehicle producer's stock worth $4,838,000 after purchasing an additional 1,198 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in Tesla in the second quarter worth approximately $585,000. Kennebec Savings Bank boosted its holdings in Tesla by 1.9% in the second quarter. Kennebec Savings Bank now owns 2,048 shares of the electric vehicle producer's stock worth $651,000 after purchasing an additional 38 shares during the last quarter. Finally, Sageworth Trust Co boosted its holdings in Tesla by 0.5% in the second quarter. Sageworth Trust Co now owns 17,033 shares of the electric vehicle producer's stock worth $5,411,000 after purchasing an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on 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 sale, 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 legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $429.83 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market cap of $1.43 trillion, a P/E ratio of 248.46, a P/E/G ratio of 15.15 and a beta of 2.08. The firm's fifty day moving average is $364.02 and its two-hundred day moving average is $321.39. 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 announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company 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 business's revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley reiterated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research note on Thursday. China Renaissance reiterated a "hold" rating and set a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Wedbush lifted their price target on shares of Tesla from $500.00 to $600.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. Benchmark reiterated a "buy" rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Royal Bank Of Canada reiterated a "buy" rating on shares of Tesla in a research note on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $343.43.

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.

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