Johnson Bixby & Associates LLC Has $754,000 Stock Position in Tesla, Inc. $TSLA

Johnson Bixby & Associates LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.8% in the second quarter, Holdings Channel reports. The firm owned 2,373 shares of the electric vehicle producer’s stock after purchasing an additional 108 shares during the quarter. Johnson Bixby & Associates LLC’s holdings in Tesla were worth $754,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank raised its holdings in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Newton One Investments LLC boosted its stake in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the 1st quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. boosted its position in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on TSLA shares. The Goldman Sachs Group increased their price target on Tesla from $300.00 to $395.00 and gave the company a “neutral” rating in a research note on Thursday, September 18th. Benchmark reiterated a “buy” rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Mizuho upped their price objective on Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, September 23rd. Stifel Nicolaus set a $440.00 target price on shares of Tesla in a research report on Friday, September 5th. Finally, Argus restated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $332.33.

Tesla Trading Up 4.0%

NASDAQ:TSLA opened at $440.40 on Monday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm’s fifty day moving average is $352.05 and its 200-day moving average is $315.40. The firm has a market cap of $1.46 trillion, a P/E ratio of 254.57, a P/E/G ratio of 15.36 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 over the last 90 days. Company insiders own 19.90% of the company’s stock.

Tesla 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.