Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by PAX Financial Group LLC

PAX Financial Group LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,276 shares of the electric vehicle producer’s stock after purchasing an additional 277 shares during the period. PAX Financial Group LLC’s holdings in Tesla were worth $576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Lam Group Inc. purchased a new position in Tesla during the 4th quarter valued at about $25,000. Mendota Financial Group LLC grew its holdings in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter worth approximately $37,000. Guardian Wealth Management Inc. acquired a new stake in Tesla during the 4th quarter worth approximately $47,000. Finally, Kathleen S. Wright Associates Inc. boosted its position in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSLA. Morgan Stanley restated an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, July 18th. Canaccord Genuity Group raised their target price on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, July 16th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Wednesday, April 24th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $197.46.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $4.99 during midday trading on Tuesday, hitting $246.52. The stock had a trading volume of 87,881,164 shares, compared to its average volume of 100,594,195. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $201.71 and a two-hundred day moving average price of $190.94. The company has a market capitalization of $786.20 billion, a PE ratio of 63.42, a P/E/G ratio of 5.97 and a beta of 2.31.

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). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. As a group, equities analysts predict that Tesla, Inc. will post 1.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla 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 directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

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.