Monetta Financial Services Inc. Makes New $890,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Monetta Financial Services Inc. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,500 shares of the electric vehicle producer’s stock, valued at approximately $890,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. DDFG Inc boosted its holdings in Tesla by 7.1% in the fourth quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock valued at $265,000 after acquiring an additional 71 shares during the last quarter. Vantage Financial Partners LLC increased its position in Tesla by 6.4% in the fourth quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after buying an additional 346 shares during the period. Gilbert & Cook Inc. lifted its position in Tesla by 8.7% in the 4th quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after purchasing an additional 1,086 shares during the last quarter. 9258 Wealth Management LLC grew its holdings in Tesla by 1.1% in the 4th quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock worth $1,532,000 after buying an additional 69 shares in the last quarter. Finally, Rollins Financial lifted its holdings in Tesla by 10.2% in the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after purchasing an additional 11,191 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research report on Monday, June 10th. Barclays dropped their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Truist Financial restated a “hold” rating and set a $215.00 target price on shares of Tesla in a report on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Tesla in a report on Monday, August 19th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $209.60.

Tesla Price Performance

TSLA stock opened at $226.78 on Tuesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93. 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 company’s fifty day simple moving average is $222.85 and its 200 day simple moving average is $194.75. The firm has a market cap of $723.25 billion, a price-to-earnings ratio of 57.85, a PEG ratio of 6.08 and a beta of 2.29.

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