Clear Creek Financial Management LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Clear Creek Financial Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 13.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,256 shares of the electric vehicle producer’s stock after purchasing an additional 1,308 shares during the period. Clear Creek Financial Management LLC’s holdings in Tesla were worth $2,227,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SNS Financial Group LLC raised its holdings in shares of Tesla by 1.8% in the second quarter. SNS Financial Group LLC now owns 8,575 shares of the electric vehicle producer’s stock valued at $1,697,000 after purchasing an additional 149 shares during the last quarter. Levy Wealth Management Group LLC raised its holdings in shares of Tesla by 7.6% in the second quarter. Levy Wealth Management Group LLC now owns 6,547 shares of the electric vehicle producer’s stock valued at $1,296,000 after purchasing an additional 460 shares during the last quarter. Ariose Capital Management Ltd purchased a new stake in shares of Tesla in the second quarter valued at about $5,936,000. Waypoint Capital Advisors LLC purchased a new stake in Tesla during the second quarter worth about $215,000. Finally, Vivid Wealth Management LLC increased its holdings in Tesla by 505.3% during the second quarter. Vivid Wealth Management LLC now owns 15,168 shares of the electric vehicle producer’s stock worth $3,001,000 after buying an additional 12,662 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research analyst reports. Glj Research raised their price objective on shares of Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Royal Bank of Canada decreased their price objective on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a report on Friday, July 5th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Friday, August 16th. Finally, Citigroup reduced their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $204.21.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’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 completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Tesla Trading Up 4.6 %

Shares of NASDAQ TSLA traded up $9.66 during mid-day trading on Friday, hitting $220.32. The stock had a trading volume of 81,303,680 shares, compared to its average volume of 98,612,938. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The firm has a market cap of $702.64 billion, a P/E ratio of 56.20, a price-to-earnings-growth ratio of 5.60 and a beta of 2.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The business has a 50 day moving average price of $219.46 and a two-hundred day moving average price of $192.14.

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

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.