Elevate Capital Advisors LLC Takes $269,000 Position in Tesla, Inc. $TSLA

Elevate Capital Advisors LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 846 shares of the electric vehicle producer's stock, valued at approximately $269,000.

Other institutional investors have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC raised its position in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla during the 1st quarter worth $27,000. Finally, Chelsea Counsel Co. boosted its position in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 40 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of Tesla stock opened at $429.83 on Monday. 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 firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The stock's 50-day moving average is $364.02 and its 200-day moving average is $322.58.

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 analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business posted $0.52 EPS. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSLA. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Wedbush upped their target price on shares of Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research report on Friday, September 26th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Royal Bank Of Canada reissued a "buy" rating on shares of Tesla in a research note on Friday, September 26th. Finally, Benchmark reaffirmed a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company's stock. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $343.43.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated 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 completion of the sale, the director directly owned 697,031 shares in the company, 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. Over the last 90 days, insiders sold 204,606 shares of company stock worth $76,188,902. 19.90% of the stock is owned by insiders.

Tesla Company 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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