Balefire LLC Purchases 4,051 Shares of Tesla, Inc. $TSLA

Balefire LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 188.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,204 shares of the electric vehicle producer’s stock after acquiring an additional 4,051 shares during the period. Balefire LLC’s holdings in Tesla were worth $1,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank increased its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC raised its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the first quarter worth $27,000. Finally, Chelsea Counsel Co. grew its holdings in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TSLA. China Renaissance reaffirmed a “hold” rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. HSBC reiterated a “reduce” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Benchmark reissued a “buy” rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Canaccord Genuity Group upped their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $303.00.

Tesla Stock Performance

NASDAQ TSLA opened at $421.62 on Wednesday. The stock’s 50 day simple moving average is $333.69 and its 200-day simple moving average is $305.35. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.36 trillion, a PE ratio of 243.71, a price-to-earnings-growth ratio of 14.30 and a beta of 2.06. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

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

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,606 shares of company stock worth $51,999,662. 20.70% of the stock is owned by corporate 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.