Tesla, Inc. $TSLA Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,229 shares of the electric vehicle producer’s stock after purchasing an additional 1,198 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Tesla were worth $4,838,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Means Investment CO. Inc. lifted its position in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. raised its holdings in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after acquiring an additional 670 shares in the last quarter. Siren L.L.C. acquired a new position in Tesla in the 1st quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC raised its holdings in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares in the last quarter. Finally, Keystone Global Partners LLC acquired a new position in Tesla in the 1st quarter valued at approximately $594,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. CICC Research upped their price target on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. William Blair reissued a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Canaccord Genuity Group lifted their target price on Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research note on Tuesday. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Bank of America raised their price target on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $343.43.

Tesla Trading Down 1.4%

Shares of TSLA stock opened at $429.83 on Friday. 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 stock has a market cap of $1.43 trillion, a P/E ratio of 248.46, a price-to-earnings-growth ratio of 15.15 and a beta of 2.08. The stock has a 50 day simple moving average of $364.02 and a 200 day simple moving average of $321.39. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

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

Insiders Place Their Bets

In other Tesla 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 completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on 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 owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 over the last three months. 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.