Platform Technology Partners raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 74.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,634 shares of the electric vehicle producer's stock after acquiring an additional 3,686 shares during the quarter. Tesla makes up 1.1% of Platform Technology Partners' portfolio, making the stock its 19th biggest position. Platform Technology Partners' holdings in Tesla were worth $2,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Pasadena Private Wealth LLC lifted its position in shares of Tesla by 8.2% in the 2nd quarter. Pasadena Private Wealth LLC now owns 2,138 shares of the electric vehicle producer's stock worth $560,000 after buying an additional 162 shares during the last quarter. Pacific Sun Financial Corp bought a new position in shares of Tesla in the 2nd quarter worth about $1,408,000. Ignite Planners LLC lifted its position in shares of Tesla by 4.4% in the 2nd quarter. Ignite Planners LLC now owns 18,343 shares of the electric vehicle producer's stock worth $5,034,000 after buying an additional 771 shares during the last quarter. Biltmore Wealth Management LLC bought a new position in shares of Tesla in the 2nd quarter worth about $755,000. Finally, WJ Wealth Management LLC bought a new position in shares of Tesla in the 2nd quarter worth about $281,000. 41.87% of the stock is currently owned by institutional investors.
In other news, SVP Xiaotong Zhu sold 1,065 shares of Tesla stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total value of $265,845.30. Following the transaction, the senior vice president now owns 59,540 shares of the company's stock, valued at $14,862,374.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $250.02, for a total transaction of $1,000,080.00. Following the transaction, the chief financial officer now owns 104,504 shares of the company's stock, valued at $26,128,090.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 1,065 shares of the business's stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total transaction of $265,845.30. Following the transaction, the senior vice president now directly owns 59,540 shares in the company, valued at approximately $14,862,374.80. The disclosure for this sale can be found here. Insiders have sold a total of 55,815 shares of company stock valued at $14,384,135 over the last 90 days. 20.90% of the stock is currently owned by company insiders.
Tesla Price Performance
NASDAQ TSLA opened at $265.28 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $842.00 billion, a PE ratio of 75.15, a price-to-earnings-growth ratio of 4.28 and a beta of 2.09. The company has a 50 day moving average price of $255.83 and a two-hundred day moving average price of $220.81. Tesla, Inc. has a 12-month low of $101.81 and a 12-month high of $313.80.
Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.22. The firm had revenue of $24.93 billion during the quarter, compared to analysts' expectations of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The company's revenue was up 47.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.
Analyst Ratings Changes
TSLA has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of Tesla from $215.00 to $278.00 and gave the stock a "neutral" rating in a report on Wednesday, July 12th. JPMorgan Chase & Co. increased their price objective on shares of Tesla from $115.00 to $120.00 and gave the stock an "underweight" rating in a report on Monday, July 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Monday, July 3rd. Wedbush increased their price objective on shares of Tesla from $300.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, July 20th. Finally, Mizuho raised their target price on shares of Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $239.43.
Read Our Latest Stock Report on Tesla
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.
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