Prosperity Financial Group Inc. Has $2.36 Million Position in Tesla, Inc. $TSLA

Prosperity Financial Group Inc. grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,436 shares of the electric vehicle producer's stock after purchasing an additional 1,150 shares during the quarter. Prosperity Financial Group Inc.'s holdings in Tesla were worth $2,362,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after acquiring an additional 849,091 shares during the period. Amundi lifted its stake in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Invesco Ltd. boosted its holdings in Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after acquiring an additional 2,211,300 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company's stock, 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 sold a total of 202,606 shares of company stock valued at $75,588,902 over the last ninety days. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $438.97 on Thursday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock's 50 day moving average is $393.73 and its 200-day moving average is $336.97. 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 capitalization of $1.46 trillion, a price-to-earnings ratio of 253.74, a PEG ratio of 15.91 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.02. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the business posted $0.72 EPS. Tesla's quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on shares of Tesla from $395.00 to $425.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. HSBC increased their price objective on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. William Blair reaffirmed a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Melius Research set a $520.00 target price on Tesla and gave the stock a "buy" rating in a report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $366.95.

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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