Marotta Asset Management purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 884 shares of the electric vehicle producer’s stock, valued at approximately $231,000.
A number of other large investors have also made changes to their positions in the company. Park National Corp OH raised its holdings in shares of Tesla by 50.0% during the second quarter. Park National Corp OH now owns 1,565 shares of the electric vehicle producer’s stock valued at $410,000 after acquiring an additional 522 shares during the period. Advance Capital Management Inc. increased its stake in Tesla by 10.0% in the 2nd quarter. Advance Capital Management Inc. now owns 3,864 shares of the electric vehicle producer’s stock valued at $1,011,000 after buying an additional 350 shares during the period. Relative Value Partners Group LLC acquired a new position in Tesla in the 1st quarter valued at approximately $980,000. Narus Financial Partners LLC acquired a new position in Tesla in the 1st quarter valued at approximately $232,000. Finally, Psagot Value Holdings Ltd. Israel increased its stake in Tesla by 33.4% in the 1st quarter. Psagot Value Holdings Ltd. Israel now owns 5,364 shares of the electric vehicle producer’s stock valued at $1,038,000 after buying an additional 1,344 shares during the period. Institutional investors and hedge funds own 41.87% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on TSLA shares. Jefferies Financial Group upped their price objective on shares of Tesla from $185.00 to $265.00 and gave the company a “hold” rating in a research note on Monday, July 10th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating in a research report on Monday, June 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $305.00 target price on shares of Tesla in a research report on Tuesday. Sanford C. Bernstein reissued an “underperform” rating and issued a $150.00 target price on shares of Tesla in a research report on Thursday, July 20th. Finally, Guggenheim reissued a “sell” rating and issued a $125.00 target price on shares of Tesla in a research report on Wednesday, August 30th. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $239.43.
Tesla Trading Up 1.7 %
Shares of Tesla stock opened at $276.04 on Friday. The stock has a market capitalization of $876.15 billion, a P/E ratio of 78.20, a price-to-earnings-growth ratio of 4.23 and a beta of 2.09. 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 company has a 50-day simple moving average of $255.83 and a 200 day simple moving average of $220.11. 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 announced its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The business had revenue of $24.93 billion during the quarter, compared to analysts’ expectations of $24.22 billion. During the same quarter last year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Tesla news, SVP Xiaotong Zhu sold 1,065 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total transaction of $265,845.30. Following the sale, the senior vice president now owns 59,540 shares of the company’s stock, valued at approximately $14,862,374.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Zachary Kirkhorn sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total value of $1,045,125.00. Following the transaction, the chief financial officer now owns 197,540 shares of the company’s stock, valued at approximately $55,054,398. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 1,065 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total transaction of $265,845.30. Following the completion of 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 in the last 90 days. 25.10% of the stock is currently owned by insiders.
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. 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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