Armstrong Fleming & Moore Inc Makes New $1.81 Million Investment in Tesla, Inc. $TSLA

Armstrong Fleming & Moore Inc bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,682 shares of the electric vehicle producer's stock, valued at approximately $1,805,000. Tesla comprises 1.0% of Armstrong Fleming & Moore Inc's holdings, making the stock its 20th biggest position.

Other hedge funds have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank grew its position in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC grew its position in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the first quarter valued at about $27,000. Finally, Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, 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 owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction 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 represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last quarter. Company insiders own 19.90% of the company's stock.

Tesla Stock Down 5.1%

Shares of TSLA opened at $413.49 on Friday. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a P/E/G ratio of 15.81 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. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a 50-day moving average price of $375.97 and a two-hundred day moving average price of $327.51.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 EPS. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price target on Tesla from $325.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday. Stifel Nicolaus set a $483.00 price target on Tesla and gave the company a "buy" rating in a research report on Wednesday. Bank of America raised their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $355.00 target price on shares of Tesla in a research note on Friday, October 3rd. Two 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $354.67.

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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