Beacon Financial Advisory LLC Acquires 1,635 Shares of Tesla, Inc. $TSLA

Key Points

• Beacon Financial Advisory LLC has increased its holdings in Tesla, Inc. by 21.8%, now owning a total of 9,137 shares valued at approximately $2.9 million.
• Significant institutional investments in Tesla include a 322.1% increase by Goldman Sachs and a 1.5% boost by Vanguard Group, with institutional owners currently holding 66.20% of the stock.
• Tesla reported a quarterly earnings miss with an EPS of $0.40 compared to the estimated $0.43, alongside a 11.8% decline in revenue year-over-year.

Beacon Financial Advisory LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,137 shares of the electric vehicle producer's stock after acquiring an additional 1,635 shares during the quarter. Tesla makes up 0.8% of Beacon Financial Advisory LLC's portfolio, making the stock its 24th largest holding. Beacon Financial Advisory LLC's holdings in Tesla were worth $2,902,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TSLA. Vanguard Group Inc. boosted its holdings in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after buying an additional 849,091 shares during the last quarter. Amundi grew its holdings in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after acquiring an additional 2,211,300 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $453.25 on Tuesday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a market capitalization of $1.51 trillion, a PE ratio of 261.99, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The stock's fifty day moving average is $366.57 and its two-hundred day moving average is $324.02. 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 (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the business earned $0.52 EPS. The company's quarterly revenue was down 11.8% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the 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 transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction 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 sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TSLA shares. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a report on Friday, September 26th. Guggenheim reissued a "sell" rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Benchmark restated a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, William Blair reiterated a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Two investment 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $344.40.

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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