Ameriflex Group Inc. Has $816,000 Stock Holdings in Tesla, Inc. $TSLA

Ameriflex Group Inc. lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 38.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,506 shares of the electric vehicle producer's stock after selling 1,566 shares during the quarter. Ameriflex Group Inc.'s holdings in Tesla were worth $816,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. KWB Wealth grew its position in 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 acquiring an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. grew its position in 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 acquiring an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. grew its position in 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 acquiring an additional 34 shares in the last quarter. Kelly Financial Services LLC boosted its holdings in shares of Tesla by 2.7% during the 2nd quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer's stock worth $423,000 after buying an additional 35 shares during the period. Finally, Acorn Wealth Advisors LLC boosted its holdings in shares of Tesla by 1.9% during the 1st 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 during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Bank of America upped their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. CICC Research upped their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. Finally, Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $343.43.

Tesla Trading Down 1.4%

Shares of Tesla stock opened at $429.83 on Monday. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $364.02 and a 200 day simple moving average of $322.58. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the company earned $0.52 EPS. The firm's revenue was down 11.8% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,606 shares of company stock valued at $76,188,902. 19.90% of the stock is currently owned by insiders.

About Tesla

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.