IFP Advisors Inc Has $6.90 Million Position in Tesla, Inc. $TSLA

IFP Advisors Inc raised its position in Tesla, Inc. (NASDAQ:TSLA) by 8.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 21,704 shares of the electric vehicle producer’s stock after purchasing an additional 1,613 shares during the quarter. IFP Advisors Inc’s holdings in Tesla were worth $6,895,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Amundi boosted its position in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after buying an additional 2,211,300 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. William Blair reaffirmed a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. UBS Group set a $247.00 target price on shares of Tesla in a research note on Monday. Wedbush boosted their target price on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Royal Bank Of Canada boosted their target price on shares of Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Mizuho boosted their target price on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $354.67.

Tesla Trading Down 5.1%

TSLA opened at $413.49 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a price-to-earnings-growth ratio of 15.81 and a beta of 2.08. The firm has a 50 day simple moving average of $375.97 and a 200 day simple moving average of $327.51. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

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

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.