Pathway Financial Advisers LLC Invests $77,000 in Tesla, Inc. (NASDAQ:TSLA)

Pathway Financial Advisers LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 437 shares of the electric vehicle producer’s stock, valued at approximately $77,000.

Other hedge funds have also made changes to their positions in the company. Lam Group Inc. acquired a new position in Tesla during the 4th quarter worth approximately $25,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the fourth quarter worth about $37,000. Guardian Wealth Management Inc. acquired a new position in Tesla in the fourth quarter worth about $47,000. Kathleen S. Wright Associates Inc. raised its stake in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares in the last quarter. Finally, A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Tesla in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Evercore ISI lowered their price target on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, April 29th. Guggenheim reissued a “sell” rating and set a $134.00 target price on shares of Tesla in a research note on Tuesday, July 23rd. Argus reiterated a “buy” rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Glj Research upped their target price on Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada lowered their price target on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $204.30.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,719 shares of company stock worth $32,032,968. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Performance

Tesla stock traded down $9.19 during mid-day trading on Friday, reaching $207.67. The company had a trading volume of 82,880,120 shares, compared to its average volume of 126,158,848. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $663.43 billion, a price-to-earnings ratio of 52.98, a PEG ratio of 5.60 and a beta of 2.31. The company has a 50 day moving average of $210.01 and a 200-day moving average of $191.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $278.98.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Tesla Company 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.