Geneos Wealth Management Inc. Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Geneos Wealth Management Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 94.2% during the first quarter, Holdings Channel reports. The firm owned 38,466 shares of the electric vehicle producer’s stock after buying an additional 18,663 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Tesla were worth $9,969,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new position in Tesla during the 4th quarter valued at $56,600,000. Means Investment CO. Inc. grew its position in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares during the period. Focus Financial Network Inc. grew its position in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after buying an additional 670 shares during the period. IFM Investors Pty Ltd grew its position in shares of Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after buying an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. purchased a new stake in shares of Tesla in the 4th quarter worth about $8,158,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 3.0%

NASDAQ TSLA opened at $325.59 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.05 trillion, a P/E ratio of 188.20, a P/E/G ratio of 9.93 and a beta of 2.39. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The stock has a 50 day moving average price of $324.37 and a 200-day moving average price of $313.04.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of recent research reports. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Mizuho reduced their target price on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. China Renaissance reaffirmed a “hold” rating and issued a $349.00 target price on shares of Tesla in a research report on Friday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $302.75.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director directly owned 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 723,119 shares of company stock valued at $247,324,149 over the last three months. Corporate insiders own 20.70% of the company’s stock.

About Tesla

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.