Balefire LLC Boosts Stake in Tesla, Inc. $TSLA

Key Points

• Balefire LLC increased its stake in Tesla by 188.2% during Q2, owning a total of 6,204 shares valued at approximately $1.97 million.
• Despite a net margin of 6.54%, Tesla reported a decline in revenue year-over-year with earnings per share of $0.40, missing expectations by $0.03.
• Analysts have mixed ratings on Tesla, with a consensus rating of "Hold" and an average target price of $303.00, while some analysts set target prices as high as $500.00.

Balefire LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 188.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,204 shares of the electric vehicle producer's stock after purchasing an additional 4,051 shares during the period. Balefire LLC's holdings in Tesla were worth $1,971,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank increased its stake in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares in the last quarter. Pacific Center for Financial Services raised its holdings in Tesla by 1,616.7% during the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock valued at $42,000 after acquiring an additional 97 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the first quarter valued at about $27,000. Finally, Newton One Investments LLC boosted its stake 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 worth $27,000 after acquiring an additional 75 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 2.8%

Shares of TSLA opened at $421.62 on Wednesday. The firm has a market capitalization of $1.36 trillion, a P/E ratio of 243.71, a P/E/G ratio of 14.30 and a beta of 2.06. 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, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a fifty day moving average price of $333.69 and a 200-day moving average price of $305.35.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. 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 firm posted $0.52 EPS. The business's revenue was down 11.8% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wedbush reissued an "outperform" rating and set a $500.00 target price on shares of Tesla in a research note on Monday. Piper Sandler reiterated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a report on Friday, September 5th. Finally, UBS Group set a $290.00 price objective on shares of Tesla in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average target price of $303.00.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,606 shares of company stock valued at $51,999,662. 20.70% of the stock is currently owned by corporate insiders.

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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