Beacon Financial Group Buys 937 Shares of Tesla, Inc. $TSLA

Key Points

• Beacon Financial Group increased its stake in Tesla by 43.1%, owning a total of 3,110 shares worth approximately $988,000 after acquiring an additional 937 shares.
• Despite a market capitalization of $1.36 trillion, Tesla's quarterly revenue was down 11.8% year-over-year, with earnings per share of $0.40, missing analysts' estimates.
• Institutional investors hold 66.20% of Tesla's stock, with a mix of ratings from analysts, including one Strong Buy, seventeen Buy, fourteen Hold, and nine Sell ratings.

Beacon Financial Group raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 43.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,110 shares of the electric vehicle producer's stock after purchasing an additional 937 shares during the period. Beacon Financial Group's holdings in Tesla were worth $988,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TSLA. Brighton Jones LLC boosted its holdings in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new position in shares of Tesla during the 4th quarter worth about $346,000. Highview Capital Management LLC DE bought a new position in shares of Tesla during the 4th quarter worth about $2,367,000. Finally, Bison Wealth LLC lifted its holdings in shares of Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after acquiring an additional 3,558 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TSLA shares. China Renaissance reaffirmed a "hold" rating and set a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. One equities research 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $303.00.

Tesla Trading Up 2.8%

TSLA opened at $421.62 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.36 trillion, a price-to-earnings ratio of 243.71, a price-to-earnings-growth ratio of 14.30 and a beta of 2.06. The firm has a 50 day simple moving average of $333.69 and a 200 day simple moving average of $305.35. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

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 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 company's quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 120,000 shares of the business's 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 of the company's stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,606 shares of company stock valued at $51,999,662 over the last ninety days. Insiders own 20.70% of the company's stock.

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.

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