Tesla, Inc. $TSLA Stock Position Raised by PDS Planning Inc

Key Points

• PDS Planning Inc increased its position in Tesla shares by 8.1% during the 2nd quarter, now holding 15,608 shares valued at approximately $4.96 million.
• Multiple hedge funds have also modified their stakes in Tesla, with Monument Capital Management raising its holdings by 29.9% and Galvin Gaustad & Stein LLC increasing theirs by a remarkable 106.0%.
• Tesla reported an EPS of $0.40 for the last quarter, falling short of estimates, and its quarterly revenue dropped 11.8% year-over-year, totaling $22.5 billion.

PDS Planning Inc grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,608 shares of the electric vehicle producer's stock after buying an additional 1,173 shares during the quarter. PDS Planning Inc's holdings in Tesla were worth $4,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in Tesla by 6.8% in the second quarter. Blue Trust Inc. now owns 12,746 shares of the electric vehicle producer's stock valued at $4,049,000 after acquiring an additional 807 shares during the last quarter. Monument Capital Management raised its holdings in shares of Tesla by 29.9% during the 2nd quarter. Monument Capital Management now owns 1,082 shares of the electric vehicle producer's stock valued at $344,000 after purchasing an additional 249 shares in the last quarter. L. Roy Papp & Associates LLP lifted its stake in shares of Tesla by 2.6% in the 2nd quarter. L. Roy Papp & Associates LLP now owns 2,613 shares of the electric vehicle producer's stock valued at $830,000 after purchasing an additional 65 shares during the last quarter. Baskin Financial Services Inc. bought a new stake in Tesla in the second quarter worth $257,000. Finally, Galvin Gaustad & Stein LLC boosted its holdings in Tesla by 106.0% in the second quarter. Galvin Gaustad & Stein LLC now owns 1,710 shares of the electric vehicle producer's stock worth $543,000 after purchasing an additional 880 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of Tesla stock opened at $413.49 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 15.01 and a beta of 2.08. The firm has a fifty day moving average price of $375.97 and a two-hundred day moving average price of $327.89. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the company posted $0.52 EPS. The firm's quarterly revenue was down 11.8% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred 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 sale, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. The Goldman Sachs Group boosted their target price on Tesla from $395.00 to $425.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. TD Cowen increased their price target on Tesla from $374.00 to $509.00 and gave the company a "buy" rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Finally, CICC Research raised their target price on shares of Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a research note on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $354.67.

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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