21,213 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 21,213 shares of the electric vehicle producer’s stock, valued at approximately $4,198,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Tesla by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after purchasing an additional 412,872 shares during the period. Financial Perspectives Inc raised its holdings in Tesla by 1.5% during the 2nd quarter. Financial Perspectives Inc now owns 7,737 shares of the electric vehicle producer’s stock valued at $1,531,000 after acquiring an additional 117 shares during the period. Black Diamond Financial LLC lifted its position in shares of Tesla by 16.6% during the second quarter. Black Diamond Financial LLC now owns 3,258 shares of the electric vehicle producer’s stock worth $645,000 after acquiring an additional 465 shares in the last quarter. Capital Wealth Planning LLC bought a new position in shares of Tesla in the second quarter worth $469,000. Finally, Angeles Investment Advisors LLC grew its position in shares of Tesla by 105.8% in the second quarter. Angeles Investment Advisors LLC now owns 2,968 shares of the electric vehicle producer’s stock valued at $587,000 after purchasing an additional 1,526 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSLA. KGI Securities reissued a “neutral” rating and set a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $147.00 to $197.00 in a research note on Friday, July 12th. William Blair initiated coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. Finally, Wolfe Research began coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $209.60.

Tesla Stock Performance

Shares of TSLA stock opened at $230.29 on Monday. The company has a market capitalization of $734.44 billion, a P/E ratio of 58.75, a PEG ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a 50 day moving average price of $223.37 and a two-hundred day moving average price of $194.57.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

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.