Tesla, Inc. $TSLA Shares Acquired by Alpha Financial Partners LLC

Alpha Financial Partners LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,545 shares of the electric vehicle producer’s stock after purchasing an additional 195 shares during the period. Alpha Financial Partners LLC’s holdings in Tesla were worth $491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. First Merchants Corp raised its position in shares of Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after buying an additional 31 shares during the period. KWB Wealth raised its position in shares of Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after buying an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. raised its position in shares of Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after buying an additional 34 shares during the period. Guyasuta Investment Advisors Inc. raised its position in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after buying an additional 34 shares during the period. Finally, Acorn Creek Capital LLC raised its position in shares of Tesla by 1.6% during the 2nd quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock valued at $697,000 after buying an additional 34 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Melius assumed coverage on Tesla in a research report on Monday. They issued a “buy” rating and a $520.00 target price on the stock. Evercore ISI boosted their target price on Tesla from $235.00 to $300.00 and gave the company an “in-line” rating in a research report on Monday. Stifel Nicolaus set a $483.00 target price on Tesla and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Melius Research set a $520.00 price objective on Tesla and gave the stock a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one 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 MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $363.03.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at $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. Over the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $435.90 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a market capitalization of $1.45 trillion, a PE ratio of 251.97, a P/E/G ratio of 14.92 and a beta of 2.08. The company has a fifty day moving average of $378.50 and a two-hundred day moving average of $329.48.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS 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 previous year, the company posted $0.52 earnings per share. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.