Archford Capital Strategies LLC Purchases 1,011 Shares of Tesla, Inc. $TSLA

Key Points

• Archford Capital Strategies LLC increased its stake in Tesla, Inc. by 49.6%, acquiring an additional 1,011 shares in the 2nd quarter, bringing its total to 3,050 shares valued at approximately $969,000.
• Tesla's stock recently opened at $443.21 and has a market capitalization of $1.47 trillion, with a 52-week low of $212.11 and a high of $488.54.
• Recent analyst ratings show a mix of opinions on Tesla's stock, with an average target price of $332.33 and ratings ranging from "Strong Buy" to "Sell" among analysts.

Archford Capital Strategies LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 49.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,050 shares of the electric vehicle producer's stock after purchasing an additional 1,011 shares during the period. Archford Capital Strategies LLC's holdings in Tesla were worth $969,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. KWB Wealth lifted its stake in shares of Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock valued at $439,000 after acquiring an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. lifted its stake in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock valued at $310,000 after acquiring an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. lifted its stake in shares of Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after acquiring an additional 34 shares during the last quarter. Kelly Financial Services LLC lifted its stake in shares of Tesla by 2.7% in the 2nd quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer's stock valued at $423,000 after acquiring an additional 35 shares during the last quarter. Finally, Acorn Wealth Advisors LLC lifted its stake in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after acquiring an additional 36 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Up 0.6%

TSLA stock opened at $443.21 on Tuesday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The business's 50 day moving average price is $354.34 and its two-hundred day moving average price is $316.75. 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 capitalization of $1.47 trillion, a price-to-earnings ratio of 256.19, a price-to-earnings-growth ratio of 15.36 and a beta of 2.06.

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 firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent analyst reports. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. CICC Research upped their price target on Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a research report on Thursday, September 18th. Canaccord Genuity Group upped their price target on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. HSBC reaffirmed a "reduce" rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Finally, William Blair reaffirmed a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $332.33.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was 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 owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 in the last 90 days. Insiders own 19.90% of the company's stock.

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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