Mark Sheptoff Financial Planning LLC Grows Stock Position in Tesla, Inc. $TSLA

Mark Sheptoff Financial Planning LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 62.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,743 shares of the electric vehicle producer’s stock after buying an additional 6,459 shares during the quarter. Tesla makes up approximately 2.8% of Mark Sheptoff Financial Planning LLC’s portfolio, making the stock its 10th biggest holding. Mark Sheptoff Financial Planning LLC’s holdings in Tesla were worth $5,318,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. First Merchants Corp boosted its position in shares of Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after purchasing an additional 31 shares in the last quarter. Alaska Wealth Advisors boosted its stake in shares of Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after acquiring an additional 32 shares in the last quarter. KWB Wealth grew its stake in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after acquiring an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. increased its stake in shares of Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after purchasing an additional 34 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its holdings in shares of Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after acquiring an additional 34 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TSLA shares. TD Cowen increased their target price on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Canaccord Genuity Group reduced their price target on shares of Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. The Goldman Sachs Group decreased their target price on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, October 23rd. Finally, Melius Research set a $520.00 price objective on Tesla and gave the company a “buy” rating in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eleven have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $391.08.

Tesla Stock Down 3.7%

TSLA opened at $429.52 on Friday. 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 business has a 50 day moving average price of $420.97 and a two-hundred day moving average price of $354.73. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a market cap of $1.43 trillion, a PE ratio of 286.35, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS 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.