Tesla, Inc. $TSLA Shares Acquired by Paragon Financial Partners Inc.

Paragon Financial Partners Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,991 shares of the electric vehicle producer’s stock after buying an additional 81 shares during the quarter. Tesla accounts for 0.6% of Paragon Financial Partners Inc.’s holdings, making the stock its 27th largest holding. Paragon Financial Partners Inc.’s holdings in Tesla were worth $950,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ethic Inc. grew its stake in Tesla by 5.9% during the 2nd quarter. Ethic Inc. now owns 156,885 shares of the electric vehicle producer’s stock worth $50,773,000 after purchasing an additional 8,708 shares in the last quarter. Meadow Creek Wealth Advisors LLC lifted its holdings in Tesla by 10.8% during the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 1,401 shares of the electric vehicle producer’s stock worth $445,000 after buying an additional 136 shares during the last quarter. Greatmark Investment Partners Inc. lifted its holdings in Tesla by 9.4% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 950 shares of the electric vehicle producer’s stock worth $302,000 after buying an additional 82 shares during the last quarter. BCM Advisors LLC lifted its holdings in Tesla by 5.8% during the 2nd quarter. BCM Advisors LLC now owns 1,099 shares of the electric vehicle producer’s stock worth $353,000 after buying an additional 60 shares during the last quarter. Finally, Dudley Capital Management LLC lifted its holdings in Tesla by 1.7% during the 2nd quarter. Dudley Capital Management LLC now owns 6,725 shares of the electric vehicle producer’s stock worth $2,136,000 after buying an additional 115 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tesla news, 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 owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last quarter. Company insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. China Renaissance reaffirmed a “hold” rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. CICC Research boosted their price target on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Mizuho boosted their price target on Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. Finally, Melius began coverage on Tesla in a research report on Monday, October 13th. They issued a “buy” rating and a $520.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $363.54.

Tesla Stock Performance

TSLA opened at $438.97 on Thursday. The stock has a market cap of $1.46 trillion, a P/E ratio of 253.74, a P/E/G ratio of 15.91 and a beta of 2.08. 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 stock’s 50 day simple moving average is $393.73 and its 200 day simple moving average is $336.97. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.