Cultivar Capital Inc. Makes New Investment in Tesla, Inc. $TSLA

Cultivar Capital Inc. bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 705 shares of the electric vehicle producer's stock, valued at approximately $224,000.

A number of other large investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of Tesla by 7.9% in the 2nd quarter. Parallel Advisors LLC now owns 74,830 shares of the electric vehicle producer's stock worth $23,770,000 after purchasing an additional 5,492 shares in the last quarter. O Connor Financial Group LLC lifted its holdings in shares of Tesla by 9.6% in the 2nd quarter. O Connor Financial Group LLC now owns 866 shares of the electric vehicle producer's stock worth $273,000 after purchasing an additional 76 shares in the last quarter. Investors Research Corp lifted its holdings in shares of Tesla by 24.5% in the 2nd quarter. Investors Research Corp now owns 635 shares of the electric vehicle producer's stock worth $202,000 after purchasing an additional 125 shares in the last quarter. Wealth Alliance Advisory Group LLC lifted its holdings in shares of Tesla by 18.5% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 1,572 shares of the electric vehicle producer's stock worth $499,000 after purchasing an additional 245 shares in the last quarter. Finally, Veery Capital LLC lifted its holdings in shares of Tesla by 33.3% in the 2nd quarter. Veery Capital LLC now owns 3,271 shares of the electric vehicle producer's stock worth $1,039,000 after purchasing an additional 818 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company's stock, 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. Insiders sold a total of 148,606 shares of company stock valued at $51,999,662 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSLA. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Guggenheim reissued a "sell" rating and issued a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Mizuho lowered their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Wedbush reissued an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research report on Monday, August 4th. Finally, China Renaissance reissued a "hold" rating and issued a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $303.00.

Tesla Trading Up 7.4%

Shares of Tesla stock opened at $395.94 on Monday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm has a market cap of $1.28 trillion, a PE ratio of 228.87, a P/E/G ratio of 13.81 and a beta of 2.06. The stock has a fifty day moving average price of $328.89 and a 200-day moving average price of $303.72. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) 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 business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the business earned $0.52 earnings per share. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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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