Folger Nolan Fleming Douglas Capital Management Inc. Acquires Shares of 737 Tesla, Inc. $TSLA

Folger Nolan Fleming Douglas Capital Management Inc. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 737 shares of the electric vehicle producer’s stock, valued at approximately $234,000.

A number of other institutional investors have also recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Tesla during the 1st quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC boosted its holdings in Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after buying an additional 6,435,598 shares in the last quarter. Amundi boosted its holdings in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

NASDAQ:TSLA opened at $413.49 on Monday. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a price-to-earnings-growth ratio of 14.92 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. The company’s 50-day moving average is $375.97 and its two-hundred day moving average is $328.28. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

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

Analysts Set New Price Targets

Several brokerages have recently commented on TSLA. UBS Group set a $247.00 price target on Tesla in a research note on Monday, October 6th. HSBC boosted their target price on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. CICC Research boosted their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $354.67.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated 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 directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. 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. 19.90% of the stock is currently owned by company insiders.

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.