Define Financial LLC Takes Position in Tesla, Inc. $TSLA

Key Points

• Define Financial LLC has acquired a new stake in Tesla, consisting of 718 shares valued at approximately $228,000.
• Insider trading reports reveal that director James R. Murdoch sold 120,000 shares of Tesla stock, reducing his ownership by 14.69%.
• Tesla’s stock recently opened at $425.85, with analysts projecting an EPS of 2.56 for the current fiscal year.

Define Financial LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 718 shares of the electric vehicle producer's stock, valued at approximately $228,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Conrad Siegel Investment Advisors Inc. increased its holdings in Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock worth $310,000 after buying an additional 34 shares during the last quarter. Acorn Wealth Advisors LLC increased its holdings in Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after buying an additional 36 shares during the last quarter. Solutions 4 Wealth Ltd increased its holdings in Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after buying an additional 36 shares during the last quarter. ACT Wealth Management LLC increased its holdings in Tesla by 0.7% during the second quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer's stock worth $1,717,000 after buying an additional 36 shares during the last quarter. Finally, Capital Management Associates Inc increased its holdings in Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after buying an additional 38 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 over the last quarter. 19.90% of the stock is owned by company insiders.

Tesla Stock Down 1.9%

TSLA stock opened at $425.85 on Wednesday. The stock has a market capitalization of $1.42 trillion, a P/E ratio of 246.16, a price-to-earnings-growth ratio of 15.15 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 50-day moving average price of $345.33 and a 200-day moving average price of $310.67.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its 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 was down 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on TSLA. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a report on Friday, September 5th. Bank of America upped their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Wedbush reiterated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Monday, September 15th. Benchmark reiterated a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, CICC Research upped their price objective on shares of Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a report on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $326.74.

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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