Newbridge Financial Services Group Inc. Has $9.98 Million Position in Tesla, Inc. $TSLA

Newbridge Financial Services Group Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 20.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,426 shares of the electric vehicle producer’s stock after purchasing an additional 5,389 shares during the period. Tesla comprises about 1.6% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 12th largest position. Newbridge Financial Services Group Inc.’s holdings in Tesla were worth $9,983,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TSLA. Chapman Financial Group LLC bought a new stake in Tesla in the second quarter worth approximately $26,000. Chelsea Counsel Co. boosted its stake in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Tesla in the 2nd quarter worth approximately $29,000. CoreFirst Bank & Trust bought a new stake in Tesla during the second quarter worth approximately $30,000. Finally, ESL Trust Services LLC raised its position in shares of Tesla by 1,900.0% in the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 95 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the transaction, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the sale, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. The trade was a 3.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 19.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Cowen reiterated a “buy” rating on shares of Tesla in a research note on Monday, November 17th. Stifel Nicolaus upped their price objective on shares of Tesla from $483.00 to $508.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Melius Research set a $520.00 target price on shares of Tesla and gave the company a “buy” rating in a research note on Monday, October 13th. Mizuho set a $475.00 price target on shares of Tesla and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Finally, TD Cowen raised their target price on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $399.33.

Tesla Stock Performance

Shares of Tesla stock opened at $458.96 on Monday. The firm has a fifty day moving average of $435.52 and a two-hundred day moving average of $376.42. 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 stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 305.97, a PEG ratio of 15.50 and a beta of 1.87. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 earnings per share. As a group, equities research analysts predict 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.