Farther Finance Advisors LLC Purchases 12,167 Shares of Tesla, Inc. $TSLA

Key Points

• Farther Finance Advisors LLC increased its stake in Tesla, Inc. by 26.4% in Q2, bringing its total holdings to 58,230 shares valued at approximately $18.5 million.
• Tesla reported earnings of $0.40 per share for the last quarter, missing estimates and showing an 11.8% decline in revenue year-over-year, totaling $22.50 billion.
• Despite recent earnings misses, analysts remain mostly positive, with a consensus rating of "Hold" and various price targets revised upward, reflecting continued investor interest in the stock.

Farther Finance Advisors LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,230 shares of the electric vehicle producer's stock after purchasing an additional 12,167 shares during the period. Farther Finance Advisors LLC's holdings in Tesla were worth $18,498,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. Cherry Tree Wealth Management LLC grew its stake in shares of 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 buying an additional 44 shares during the period. First PREMIER Bank grew its stake in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC grew its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the 1st quarter valued at about $27,000. Finally, Chelsea Counsel Co. grew its stake in shares of 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 period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of TSLA traded up $8.14 during mid-day trading on Monday, reaching $434.21. 96,526,944 shares of the stock traded hands, compared to its average volume of 103,372,102. The firm has a fifty day moving average price of $340.68 and a 200 day moving average price of $308.67. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 250.99, a price-to-earnings-growth ratio of 14.86 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 1 year low of $212.11 and a 1 year high of $488.54.

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

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction dated 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 owned 47,600 shares of the company's stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,606 shares of company stock valued at $77,360,462. Insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Guggenheim reaffirmed a "sell" rating and issued a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research report on Friday, September 5th. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and raised their price target for the company from $320.00 to $548.00 in a research report on Friday. Finally, Dbs Bank raised their price target on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company's stock. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $324.53.

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.