Transcend Capital Advisors LLC Has $2.90 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Transcend Capital Advisors LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,638 shares of the electric vehicle producer’s stock after acquiring an additional 546 shares during the period. Transcend Capital Advisors LLC’s holdings in Tesla were worth $2,897,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Lam Group Inc. bought a new position in shares of Tesla during the fourth quarter worth approximately $25,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the fourth quarter worth approximately $37,000. Guardian Wealth Management Inc. bought a new position in Tesla in the fourth quarter valued at approximately $47,000. Kathleen S. Wright Associates Inc. increased its stake in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares during the last quarter. Finally, A.P. Gilfoyle & Co. L.P. bought a new position in Tesla in the fourth quarter valued at approximately $50,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 4.2 %

TSLA stock traded down $9.19 during midday trading on Friday, hitting $207.67. The stock had a trading volume of 82,880,120 shares, compared to its average volume of 126,158,848. The firm has a market cap of $663.43 billion, a P/E ratio of 52.98, a price-to-earnings-growth ratio of 5.60 and a beta of 2.31. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. The business has a fifty day moving average price of $210.01 and a two-hundred day moving average price of $190.87.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts predict that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Canaccord Genuity Group lifted their price objective on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $204.30.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,719 shares of company stock valued at $32,032,968. Corporate insiders own 25.10% 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.