LVZ Inc. acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 727 shares of the electric vehicle producer's stock, valued at approximately $231,000.
Several other hedge funds have also made changes to their positions in TSLA. Means Investment CO. Inc. lifted its stake in Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. lifted its position in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares during the period. Siren L.L.C. bought a new position in shares of Tesla during the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC increased its holdings in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after buying an additional 826 shares during the period. Finally, Keystone Global Partners LLC bought a new position in Tesla in the first quarter worth approximately $594,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have issued reports on TSLA shares. Dbs Bank increased their target price on Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Bank of America lifted their target price on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Wedbush reissued an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Monday, September 15th. HSBC reaffirmed a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. Finally, Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and increased their target price for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $326.74.
Check Out Our Latest Stock Report on TSLA
Insider Activity at Tesla
In other Tesla news, 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 value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The sale 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 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 sale, the senior vice president directly owned 47,600 shares in the company, 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. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 in the last three months. Company insiders own 19.90% of the company's stock.
Tesla Stock Performance
NASDAQ TSLA opened at $425.85 on Wednesday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. 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 has a market capitalization of $1.42 trillion, a P/E ratio of 246.16, a PEG ratio of 15.15 and a beta of 2.06. The stock has a 50-day simple moving average of $345.33 and a two-hundred day simple moving average 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 the consensus estimate 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 analyst estimates of $23.18 billion. During the same period last year, the business earned $0.52 earnings per share. The firm's revenue was down 11.8% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.
Tesla Company Profile
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Free Report)
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.
See Also
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