FWG Investments LLC. Buys Shares of 1,015 Tesla, Inc. $TSLA

FWG Investments LLC. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,015 shares of the electric vehicle producer’s stock, valued at approximately $323,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Merchants Corp grew its position in 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 during the last quarter. Alaska Wealth Advisors lifted its stake in shares of Tesla by 3.4% in the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after buying an additional 32 shares during the period. KWB Wealth grew its position in Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. increased its stake in Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after acquiring an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. raised its holdings in Tesla by 0.7% in 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 acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TSLA. HSBC boosted their price objective on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Evercore ISI decreased their target price on shares of Tesla from $300.00 to $235.00 in a research report on Friday, October 24th. Bank of America increased their price target on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Glj Research restated a “sell” rating on shares of Tesla in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $388.51.

Tesla Trading Down 4.6%

Shares of TSLA opened at $440.10 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 293.40, a PEG ratio of 16.84 and a beta of 2.08. The stock has a fifty day moving average price of $408.19 and a two-hundred day moving average price of $346.05. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same period last year, the company posted $0.72 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on 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 in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 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 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.