Access Financial Services Inc. Makes New Investment in Tesla, Inc. $TSLA

Access Financial Services Inc. bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,495 shares of the electric vehicle producer's stock, valued at approximately $2,063,000. Tesla accounts for approximately 0.8% of Access Financial Services Inc.'s holdings, making the stock its 17th biggest position.

A number of other hedge funds have also made changes to their positions in the stock. KWB Wealth lifted its position in shares of Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock worth $439,000 after purchasing an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. lifted its position in shares of Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock worth $310,000 after purchasing an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. lifted its position in shares of Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock worth $1,622,000 after purchasing an additional 34 shares in the last quarter. Kelly Financial Services LLC lifted its position in shares of Tesla by 2.7% in the second quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer's stock worth $423,000 after purchasing an additional 35 shares in the last quarter. Finally, Acorn Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 36 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The stock was 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 in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by company insiders.

Tesla Trading Down 1.4%

Shares of TSLA stock opened at $429.83 on Friday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm's fifty day simple moving average is $364.02 and its 200 day simple moving average is $321.39. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 248.46, a price-to-earnings-growth ratio of 15.15 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.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the firm posted $0.52 EPS. The company's revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Tesla from $115.00 to $150.00 in a research report on Friday. The Goldman Sachs Group raised their price objective on shares of Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Finally, Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average 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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