OLIO Financial Planning Makes New $213,000 Investment in Tesla, Inc. $TSLA

Key Points

• OLIO Financial Planning invested $213,000 in Tesla, acquiring 670 shares, as reported in their recent 13F filing.
• A number of institutional investors increased their positions in Tesla, with hedge funds now owning 66.20% of the company's stock.
• Analysts have set a new average target price of $307.46 for Tesla, with multiple firms issuing ratings between "Hold" and "Buy."

OLIO Financial Planning acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 670 shares of the electric vehicle producer's stock, valued at approximately $213,000.

A number of other large investors have also made changes to their positions in the stock. Acorn Wealth Advisors LLC lifted its holdings in shares of Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after purchasing an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd lifted its stake in Tesla by 2.0% during the first 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 during the last quarter. ACT Wealth Management LLC increased its holdings in shares of Tesla by 0.7% in the second quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer's stock worth $1,717,000 after buying an additional 36 shares during the period. Capital Management Associates Inc increased its holdings in Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after purchasing an additional 38 shares during the period. Finally, Graney & King LLC boosted its position in Tesla by 18.4% during the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock valued at $63,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Up 2.2%

Shares of Tesla stock traded up $9.22 during mid-day trading on Friday, hitting $426.07. The stock had a trading volume of 92,721,496 shares, compared to its average volume of 86,324,392. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.42 trillion, a P/E ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The firm has a 50-day moving average of $340.68 and a two-hundred day moving average of $308.35. Tesla, Inc. has a 12-month low of $212.11 and a 12-month 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 for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSLA. Mizuho lowered their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Benchmark reiterated a "buy" rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday. The Goldman Sachs Group boosted 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, William Blair reissued a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat.com, Tesla has an average rating of "Hold" and a consensus target price of $317.70.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on 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 owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 in the last ninety days. 20.70% of the stock is owned by corporate 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.