838 Shares in Tesla, Inc. $TSLA Purchased by SPC Financial Inc.

Key Points

• SPC Financial Inc. has acquired 838 shares of Tesla, Inc. valued at approximately $266,000, marking a new position for the company during the 2nd quarter.
• Insider transactions revealed that SVP Xiaotong Zhu sold 20,000 shares for $7.27 million, reducing his ownership by 29.59%, while CFO Vaibhav Taneja sold 2,606 shares valued at over $918,000, decreasing his stake by 20.91%.
• Tesla's stock has shown volatility, with shares up 5.4% recently, and a current market cap of $1.45 trillion, although the company reported a decrease in quarterly revenue of 11.8% year-over-year.

SPC Financial Inc. acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 838 shares of the electric vehicle producer's stock, valued at approximately $266,000.

Other hedge funds have also bought and sold shares of the company. Means Investment CO. Inc. lifted its stake in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after buying an additional 6,323 shares in the last quarter. Siren L.L.C. bought a new position in shares of Tesla in the first quarter worth approximately $2,332,000. Zuckerman Investment Group LLC lifted its stake in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after buying an additional 826 shares in the last quarter. Keystone Global Partners LLC bought a new position in shares of Tesla in the first quarter worth approximately $594,000. Finally, Strs Ohio bought a new position in shares of Tesla in the first quarter worth approximately $205,495,000. Institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the 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 completion of the sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last three months. Corporate insiders own 19.90% of the company's stock.

Tesla Stock Up 5.4%

Shares of TSLA stock opened at $435.90 on Tuesday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market cap of $1.45 trillion, a P/E ratio of 251.97, a P/E/G ratio of 14.92 and a beta of 2.08. 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 50 day simple moving average of $378.50 and a two-hundred day simple moving average of $329.48.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results 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 net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The firm's quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TSLA shares. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Guggenheim restated a "sell" rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Piper Sandler increased their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday, September 22nd. Finally, Royal Bank Of Canada increased their price objective on shares of Tesla from $325.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, Tesla has an average rating of "Hold" and an average price target of $363.03.

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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