Vantage Financial Partners LLC Acquires 3,494 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Vantage Financial Partners LLC increased its holdings in Tesla by 112.7% in the first quarter, owning a total of 6,595 shares valued at approximately $1.7 million after acquiring 3,494 additional shares.
• Tesla's stock has seen a 3.5% increase recently, opening at $316.06, with a twelve-month trading range between $182.00 and $488.54.
• The company reported a net margin of 6.54% and revenue of $22.5 billion in the last quarter, missing analysts' estimates, with earnings per share at $0.40.

Vantage Financial Partners LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 112.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,595 shares of the electric vehicle producer's stock after buying an additional 3,494 shares during the quarter. Vantage Financial Partners LLC's holdings in Tesla were worth $1,709,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its holdings in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its holdings in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla in the 1st quarter worth about $27,000. Finally, True Wealth Design LLC increased its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 3.5%

TSLA stock opened at $316.06 on Monday. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. 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 stock's 50 day moving average is $324.70 and its 200-day moving average is $313.53. The firm has a market capitalization of $1.02 trillion, a PE ratio of 182.69, a P/E/G ratio of 9.93 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Barclays lowered their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. China Renaissance reissued a "hold" rating and issued a $349.00 price target on shares of Tesla in a research note on Friday. Raymond James Financial cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $302.75.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 835,509 shares of company stock valued at $279,420,485. Insiders own 20.70% 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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