Peak Financial Management Inc. Makes New Investment in Tesla, Inc. $TSLA

Peak Financial Management Inc. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 679 shares of the electric vehicle producer's stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Merchants Corp grew its stake in Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock valued at $767,000 after purchasing an additional 31 shares during the period. KWB Wealth grew its stake in shares of Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock worth $439,000 after acquiring an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. grew its stake in shares of Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock worth $310,000 after acquiring an additional 34 shares during the period. Guyasuta Investment Advisors Inc. grew its stake in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock worth $1,622,000 after acquiring an additional 34 shares during the period. Finally, Kelly Financial Services LLC grew its stake in shares of Tesla by 2.7% during the 2nd quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer's stock worth $423,000 after acquiring an additional 35 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA opened at $435.54 on Friday. The stock's 50-day simple moving average is $373.75 and its 200 day simple moving average is $326.64. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 251.76, a price-to-earnings-growth ratio of 16.04 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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 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 business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the previous year, the business earned $0.52 EPS. The business's revenue was down 11.8% on a year-over-year basis. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Stifel Nicolaus set a $483.00 price target on Tesla and gave the stock a "buy" rating in a research note on Wednesday. UBS Group set a $247.00 price target on Tesla in a research note on Monday. Benchmark reiterated a "buy" rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Bank of America increased their price objective on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $349.37.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last 90 days. Corporate insiders own 19.90% of the company's stock.

About Tesla

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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