Magnolia Capital Advisors LLC Grows Position in Tesla, Inc. $TSLA

Magnolia Capital Advisors LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.3% in the second quarter, Holdings Channel reports. The fund owned 4,785 shares of the electric vehicle producer’s stock after purchasing an additional 327 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in Tesla were worth $1,520,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Prosperity Consulting Group LLC lifted its stake in Tesla by 7.6% in the second quarter. Prosperity Consulting Group LLC now owns 8,771 shares of the electric vehicle producer’s stock worth $2,786,000 after acquiring an additional 617 shares during the period. Key Financial Inc lifted its stake in Tesla by 6.0% in the second quarter. Key Financial Inc now owns 3,682 shares of the electric vehicle producer’s stock worth $1,170,000 after acquiring an additional 208 shares during the period. Pacific Wealth Strategies Group Inc. purchased a new stake in Tesla in the second quarter worth about $208,000. Holistic Financial Partners raised its holdings in Tesla by 2.5% in the second quarter. Holistic Financial Partners now owns 4,001 shares of the electric vehicle producer’s stock worth $1,271,000 after purchasing an additional 98 shares in the last quarter. Finally, Optivise Advisory Services LLC raised its holdings in Tesla by 27.1% in the second quarter. Optivise Advisory Services LLC now owns 3,785 shares of the electric vehicle producer’s stock worth $1,202,000 after purchasing an additional 807 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $468.37 on Tuesday. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company’s 50 day moving average is $412.95 and its 200 day moving average is $350.47. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.56 trillion, a PE ratio of 312.25, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the company earned $0.72 EPS. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Roth Capital set a $505.00 target price on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, October 23rd. Melius Research set a $520.00 target price on shares of Tesla and gave the stock a “buy” rating in a report on Monday, October 13th. Melius assumed coverage on shares of Tesla in a report on Monday, October 13th. They issued a “buy” rating and a $520.00 target price for the company. Wedbush restated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a report on Monday, October 20th. Finally, Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $390.27.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate 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.