Drake & Associates LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 791 shares of the electric vehicle producer’s stock, valued at approximately $207,000.
Other hedge funds have also recently made changes to their positions in the company. Lakewood Asset Management LLC purchased a new position in shares of Tesla in the fourth quarter worth $25,000. Alpha Paradigm Partners LLC purchased a new position in shares of Tesla in the third quarter worth $27,000. GW&K Investment Management LLC purchased a new position in shares of Tesla in the first quarter worth $30,000. MayTech Global Investments LLC purchased a new position in shares of Tesla in the fourth quarter worth $30,000. Finally, St. Johns Investment Management Company LLC increased its stake in shares of Tesla by 451.9% in the first quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after buying an additional 122 shares during the period. 41.87% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently commented on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $150.00 target price on shares of Tesla in a research note on Thursday, July 20th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating in a research report on Monday, June 12th. Barclays downgraded shares of Tesla from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $220.00 to $260.00 in a research report on Wednesday, June 21st. StockNews.com began coverage on shares of Tesla in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $305.00 price objective on shares of Tesla in a research report on Tuesday, September 12th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $239.43.
Insider Buying and Selling at Tesla
In other news, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the completion of the sale, the chief financial officer now owns 197,540 shares of the company’s stock, valued at approximately $55,054,398. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the completion of the sale, the senior vice president now owns 66,834 shares of the company’s stock, valued at approximately $16,249,350.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the sale, the chief financial officer now directly owns 197,540 shares of the company’s stock, valued at approximately $55,054,398. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,815 shares of company stock worth $14,384,135. Company insiders own 25.10% of the company’s stock.
Tesla Price Performance
TSLA opened at $274.39 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59. The stock has a market capitalization of $870.91 billion, a P/E ratio of 77.73, a P/E/G ratio of 4.30 and a beta of 2.09. The company’s 50-day simple moving average is $255.83 and its two-hundred day simple moving average is $220.81. Tesla, Inc. has a 52-week low of $101.81 and a 52-week 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 the consensus estimate of $0.69 by $0.22. The business had revenue of $24.93 billion for 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 business’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. As a group, analysts predict that Tesla, Inc. will post 2.94 EPS for the current year.
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.
- Five stocks we like better than Tesla
- What is Put Option Volume?
- 5 Reasons Apple’s New Phone Moves the Needle: 5 That It Won’t
- NYSE Stocks Give Investors a Variety of Quality Options
- MarketBeat Week in Review – 9/11 – 9/15
- How to Calculate Return on Investment (ROI)
- China’s Jump In Car Sales Is Drawing Big Money To These Stocks
Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.