Park Avenue Securities LLC Boosts Position in Tesla, Inc. $TSLA

Key Points

• Park Avenue Securities LLC increased its stake in Tesla, Inc. by 7.7%, acquiring 7,097 additional shares, bringing its total holding to 99,695 shares valued at approximately $31.67 million.
• Tesla's latest quarterly earnings showed a miss in EPS estimates, reporting $0.40 versus the expected $0.43, with revenue declining 11.8% year-over-year to $22.5 billion.
• Analysts have mixed ratings for Tesla stock, with a consensus rating of "Hold" and a price target of $317.70, while two analysts rated it as a Strong Buy.

Park Avenue Securities LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,695 shares of the electric vehicle producer's stock after acquiring an additional 7,097 shares during the period. Park Avenue Securities LLC's holdings in Tesla were worth $31,669,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC raised its holdings in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank raised its holdings in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC raised its holdings in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla during the 1st quarter worth $27,000. Finally, Chelsea Counsel Co. raised its holdings in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA opened at $426.07 on Monday. The stock has a 50 day moving average price of $340.68 and a 200 day moving average price of $308.67. 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 company has a market capitalization 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. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business 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 business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction that occurred on 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 sale, the senior vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 over the last three months. 19.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TSLA shares. Canaccord Genuity Group boosted their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Guggenheim restated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Bank of America boosted their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Finally, Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $320.00 to $548.00 in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $317.70.

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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