Financiere des Professionnels Fonds d investissement inc. Acquires New Position in Tesla, Inc. $TSLA

Key Points

• Financiere des Professionnels Fonds d investissement inc. has acquired a new stake in Tesla, purchasing 3,778 shares valued at approximately $1.2 million in the second quarter.
• Analysts have raised their price targets for Tesla, with Benchmark setting a new target of $475.00 and Goldman Sachs adjusting theirs to $395.00, with a consensus rating of "Hold."
• Tesla's CFO recently sold 4,000 shares at an average price of $292.89, contributing to a overall insider sale of 208,606 shares worth approximately $77.4 million in the past three months.

Financiere des Professionnels Fonds d investissement inc. bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,778 shares of the electric vehicle producer's stock, valued at approximately $1,200,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Brighton Jones LLC increased its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Tesla during the 4th quarter worth approximately $346,000. Bison Wealth LLC grew its stake in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after buying an additional 3,558 shares in the last quarter. Finally, Pinnacle Wealth Management LLC lifted its holdings in shares of Tesla by 1.0% during the 4th quarter. Pinnacle Wealth Management LLC now owns 9,263 shares of the electric vehicle producer's stock worth $3,741,000 after acquiring an additional 95 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on 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 sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction dated 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 transaction, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 over the last ninety days. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Mizuho lowered their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group increased their price objective on shares of Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Canaccord Genuity Group raised their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $317.70.

Tesla Stock Performance

Tesla stock traded up $9.22 during midday trading on Friday, hitting $426.07. 92,721,496 shares of the company's stock were exchanged, compared to its average volume of 86,324,392. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm's 50 day simple moving average is $340.68 and its 200 day simple moving average is $308.35.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. Equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla 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.