Graney & King LLC Buys 38 Shares of Tesla, Inc. $TSLA

Graney & King LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 18.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245 shares of the electric vehicle producer’s stock after purchasing an additional 38 shares during the period. Graney & King LLC’s holdings in Tesla were worth $63,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TSLA. Eagle Capital Management LLC acquired a new stake in shares of Tesla during the fourth quarter worth approximately $331,000. Brighton Jones LLC increased its holdings in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $2,367,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 0.6%

Shares of NASDAQ:TSLA opened at $349.60 on Thursday. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $322.87 and its 200 day simple moving average is $303.14. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 202.08, a PEG ratio of 12.23 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, 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 a total of 30,564 shares of company stock worth $9,757,390 over the last quarter. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TSLA. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. China Renaissance reaffirmed a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Robert W. Baird reissued a “neutral” rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $303.31.

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.