Strong Tower Advisory Services Acquires 492 Shares of Tesla, Inc. $TSLA

Strong Tower Advisory Services raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,061 shares of the electric vehicle producer’s stock after buying an additional 492 shares during the period. Tesla comprises about 2.1% of Strong Tower Advisory Services’ holdings, making the stock its 10th largest position. Strong Tower Advisory Services’ holdings in Tesla were worth $10,820,000 at the end of the most recent quarter.

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

Tesla Price Performance

Shares of TSLA opened at $413.49 on Friday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock’s 50 day moving average is $375.97 and its two-hundred day moving average is $327.89. The firm has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a P/E/G ratio of 15.01 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the prior year, the firm posted $0.52 EPS. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Guggenheim reaffirmed a “sell” rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, The Goldman Sachs Group raised their price objective on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $354.67.

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.