Vantage Point Financial LLC Increases Stock Position in Tesla, Inc. $TSLA

Vantage Point Financial LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 8.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,589 shares of the electric vehicle producer’s stock after purchasing an additional 119 shares during the quarter. Vantage Point Financial LLC’s holdings in Tesla were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC boosted its stake in shares of Tesla by 17.6% in the second quarter. Stonebridge Financial Group LLC now owns 3,675 shares of the electric vehicle producer’s stock valued at $1,167,000 after purchasing an additional 551 shares during the period. MA Private Wealth acquired a new stake in Tesla in the second quarter valued at $476,000. IFP Advisors Inc raised its holdings in Tesla by 8.0% in the second quarter. IFP Advisors Inc now owns 21,704 shares of the electric vehicle producer’s stock valued at $6,895,000 after acquiring an additional 1,613 shares in the last quarter. Baldwin Wealth Partners LLC MA raised its holdings in Tesla by 9.3% in the second quarter. Baldwin Wealth Partners LLC MA now owns 1,816 shares of the electric vehicle producer’s stock valued at $577,000 after acquiring an additional 154 shares in the last quarter. Finally, Financial Security Advisor Inc. raised its holdings in Tesla by 12.7% in the second quarter. Financial Security Advisor Inc. now owns 3,839 shares of the electric vehicle producer’s stock valued at $1,220,000 after acquiring an additional 434 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent analyst reports. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Mizuho upped their price target on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Bank of America upped their price target on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Canaccord Genuity Group upped their price target on shares of Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a report on Friday, September 26th. Two 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $354.67.

Tesla Stock Down 5.1%

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

Tesla (NASDAQ:TSLA) last released 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 return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the business earned $0.52 EPS. The firm’s revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated 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 transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $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 valued at $75,588,902 in the last quarter. Company insiders own 19.90% of the company’s stock.

Tesla Company 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.