Taylor Financial Group Inc. Purchases New Shares in Tesla, Inc. $TSLA

Taylor Financial Group Inc. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 750 shares of the electric vehicle producer’s stock, valued at approximately $238,000.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC lifted its holdings in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Tesla by 6.4% in the 1st quarter. Golden State Wealth Management LLC now owns 17,619 shares of the electric vehicle producer’s stock valued at $4,566,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Colonial River Investments LLC lifted its holdings in Tesla by 60.3% in the 1st quarter. Colonial River Investments LLC now owns 9,824 shares of the electric vehicle producer’s stock valued at $2,546,000 after purchasing an additional 3,695 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last 90 days. 19.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on TSLA. Guggenheim reiterated a “sell” rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Tesla in a report on Monday, October 20th. Glj Research restated a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. Finally, The Goldman Sachs Group reduced their price objective on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $381.00.

Tesla Price Performance

TSLA stock opened at $452.42 on Tuesday. The business has a fifty day moving average of $400.41 and a two-hundred day moving average of $342.47. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.50 trillion, a price-to-earnings ratio of 301.61, a price-to-earnings-growth ratio of 15.45 and a beta of 2.08. Tesla, Inc. has a 52-week low of $214.25 and a 52-week 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 during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. As a group, research 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.