MRA Advisory Group Makes New Investment in Tesla, Inc. $TSLA

Key Points

• MRA Advisory Group recently purchased 2,135 shares of Tesla, Inc., valued at approximately $678,000, marking a new investment for the firm.
• Several institutional investors, including Acorn Wealth Advisors LLC and Graney & King LLC, have also recently modified their holdings in Tesla, contributing to a total institutional ownership of 66.20%.
• Tesla's stock has faced mixed ratings from analysts, with a consensus rating of "Hold" and a target price of $303.00, following a disappointing quarterly earnings report.

MRA Advisory Group bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,135 shares of the electric vehicle producer's stock, valued at approximately $678,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Acorn Wealth Advisors LLC increased its holdings in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd increased its holdings in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after purchasing an additional 36 shares in the last quarter. Capital Management Associates Inc increased its holdings in shares of Tesla by 3.4% in the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after purchasing an additional 38 shares in the last quarter. Graney & King LLC increased its holdings in shares of Tesla by 18.4% in the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock worth $63,000 after purchasing an additional 38 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. increased its holdings in shares of Tesla by 3.8% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer's stock worth $278,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TSLA. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. William Blair reissued a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Finally, Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $303.00.

Tesla Stock Performance

NASDAQ:TSLA opened at $395.94 on Monday. The stock has a 50-day simple moving average of $328.89 and a two-hundred day simple moving average of $303.72. Tesla, Inc. has a 52-week low of $212.11 and a 52-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 $1.28 trillion, a PE ratio of 228.87, a P/E/G ratio of 13.81 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $23.18 billion. During the same period in the prior year, the firm posted $0.52 EPS. The business's revenue for the quarter was down 11.8% on a year-over-year basis. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,606 shares of company stock valued at $51,999,662. Company insiders own 20.70% of the company's stock.

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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