Family Legacy Financial Solutions LLC Buys Shares of 1,524 Tesla, Inc. $TSLA

Key Points

• Family Legacy Financial Solutions LLC has acquired 1,524 shares of Tesla, Inc. valued at approximately $484,000 in the second quarter.
• Tesla's stock price has recently seen a 2.1% decrease, with shares opening at $416.85 despite a significant market cap of $1.34 trillion.
• The company reported earnings per share of $0.40 for the last quarter, missing estimates by $0.03 and showing an 11.8% revenue decline year-over-year.

Family Legacy Financial Solutions LLC bought 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 Securities & Exchange Commission. The fund bought 1,524 shares of the electric vehicle producer's stock, valued at approximately $484,000.

A number of other large investors have also added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. raised its holdings in shares of Tesla by 322.1% in the first 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 purchasing an additional 20,291,139 shares during the last quarter. Nuveen LLC bought a new stake in Tesla during the 1st quarter valued at about $3,247,619,000. GAMMA Investing LLC boosted its holdings in shares of Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the last quarter. Amundi lifted its holdings in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction 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. The trade was a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following 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 a total of 208,606 shares of company stock worth $77,360,462 over the last ninety days. Company insiders own 20.70% of the company's stock.

Tesla Trading Up 2.2%

TSLA traded up $9.22 on Friday, reaching $426.07. 92,721,496 shares of the company traded hands, compared to its average volume of 86,324,392. The company has a market cap of $1.42 trillion, a P/E ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $340.68 and a two-hundred day simple moving average of $308.35.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. Tesla's revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on TSLA shares. Canaccord Genuity Group upped their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Bank of America upped their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and raised their target price for the company from $320.00 to $548.00 in a report on Friday. Finally, Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $317.70.

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.