Oldfather Financial Services LLC Buys New Holdings in Tesla, Inc. $TSLA

Key Points

• Oldfather Financial Services LLC made a new investment in Tesla, purchasing 764 shares valued at approximately $243,000 during the second quarter.
• Tesla reported earnings of $0.40 per share for the last quarter, below analyst expectations of $0.43, with revenues of $22.50 billion compared to $23.18 billion expected.
• Insider trading activity included CFO Vaibhav Taneja selling 4,000 shares worth $1.17 million, reflecting a 40.31% decrease in his position.

Oldfather Financial Services LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 764 shares of the electric vehicle producer's stock, valued at approximately $243,000.

Other hedge funds have also modified their holdings of the company. Cherry Tree Wealth Management LLC grew its holdings in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank grew its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Pacific Center for Financial Services grew its stake in Tesla by 1,616.7% in the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock valued at $42,000 after purchasing an additional 97 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the first quarter valued at approximately $27,000. Finally, Newton One Investments LLC grew its stake in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSLA. William Blair restated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Bank of America raised their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, UBS Group set a $290.00 price objective on Tesla in a research report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $317.70.

Tesla Trading Up 2.2%

TSLA traded up $9.22 during midday trading on Friday, hitting $426.07. 92,721,496 shares of the company were exchanged, compared to its average volume of 86,324,392. The firm has a market capitalization of $1.42 trillion, a P/E ratio of 246.28, a P/E/G ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm's 50 day moving average price is $340.68 and its 200-day moving average price is $308.35. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business'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 transaction, 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 link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business'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 directly owned 5,924 shares in the company, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 in the last ninety days. 20.70% of the stock is owned by company insiders.

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.