Christensen King & Associates Investment Services Inc. Makes New Investment in Tesla, Inc. $TSLA

Key Points

• Christensen King & Associates Investment Services Inc. has made a new investment in Tesla, purchasing 638 shares worth approximately $203,000 during the second quarter.
• Several large institutional investors, including Vanguard and Goldman Sachs, have significantly increased their holdings in Tesla, indicating strong institutional interest.
• The latest analyst ratings for Tesla show a consensus price target of $324.53, with a mix of ratings from "Strong Buy" to "Sell" among the analysts.

Christensen King & Associates Investment Services Inc. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 638 shares of the electric vehicle producer's stock, valued at approximately $203,000.

A number of other large investors have also recently bought and sold shares of TSLA. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tesla by 4.9% in the 1st 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 boosted its holdings in shares of Tesla by 29.4% in 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 during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after buying an additional 2,211,300 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TSLA shares. Wedbush reissued an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Monday, September 15th. The Goldman Sachs Group increased their price objective on Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a report on Thursday, September 18th. Morgan Stanley restated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, September 5th. William Blair restated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Finally, China Renaissance restated a "hold" rating and issued a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $324.53.

Tesla Stock Up 1.9%

Shares of NASDAQ TSLA opened at $434.21 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 250.99, a PEG ratio of 14.86 and a beta of 2.06. The stock's fifty day moving average is $343.03 and its 200 day moving average is $309.87.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 company had revenue of $22.50 billion during 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 previous year, the business posted $0.52 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, 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 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 $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 over the last ninety days. 19.90% of the stock is owned by corporate insiders.

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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