Sowell Financial Services LLC Acquires 2,645 Shares of Tesla, Inc. $TSLA

Key Points

• Sowell Financial Services LLC increased its holdings in Tesla, Inc. by 8.1% during the second quarter, amassing a total of 35,265 shares valued at approximately $11.20 million.
• Several analysts have varying outlooks on Tesla, with target prices ranging from $175 to $500 and a consensus average target price of $317.70.
• Insiders have recently sold significant amounts of Tesla stock, including Director James R. Murdoch, who sold 120,000 shares, reducing his ownership by 14.69%.

Sowell Financial Services LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,265 shares of the electric vehicle producer's stock after buying an additional 2,645 shares during the period. Sowell Financial Services LLC's holdings in Tesla were worth $11,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. raised its position in 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 valued at $6,891,201,000 after buying an additional 20,291,139 shares during the period. Nuveen LLC acquired a new position in Tesla in the 1st quarter worth about $3,247,619,000. GAMMA Investing LLC raised its stake in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Kingstone Capital Partners Texas LLC raised its stake in shares of Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock worth $2,044,683,000 after purchasing an additional 6,435,598 shares in the last quarter. Finally, Amundi raised its stake in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $6.69 during trading on Tuesday, hitting $427.52. 65,765,229 shares of the stock were exchanged, compared to its average volume of 103,149,258. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 246.82, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The company's fifty day simple moving average is $343.03 and its 200-day simple moving average is $309.87. 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 announced its quarterly earnings data 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). The firm 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%.Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on TSLA. Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Bank of America raised their price target on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Benchmark reaffirmed a "buy" rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus price target of $326.74.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm'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 transaction, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 in the last 90 days. 19.90% 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.