Tesla, Inc. $TSLA Shares Acquired by CGN Advisors LLC

CGN Advisors LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 28.3% during the second quarter, HoldingsChannel.com reports. The fund owned 1,078 shares of the electric vehicle producer’s stock after buying an additional 238 shares during the period. CGN Advisors LLC’s holdings in Tesla were worth $342,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TSLA. Brighton Jones LLC grew its holdings in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Tesla by 21.2% during 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 buying an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Tesla during the fourth quarter valued at $346,000. Bison Wealth LLC grew its holdings in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares in the last quarter. Finally, Menard Financial Group LLC grew its holdings in shares of Tesla by 47.2% during the fourth quarter. Menard Financial Group LLC now owns 4,449 shares of the electric vehicle producer’s stock valued at $1,797,000 after buying an additional 1,427 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,606 shares of company stock valued at $77,360,462. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $425.85 on Wednesday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. 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 stock has a market capitalization of $1.42 trillion, a PE ratio of 246.16, a P/E/G ratio of 15.15 and a beta of 2.06. The stock has a 50-day simple moving average of $345.33 and a 200 day simple moving average of $310.67.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, July 24th. UBS Group reiterated a “sell” rating on shares of Tesla in a report on Monday. Stifel Nicolaus set a $440.00 price target on Tesla in a report on Friday, September 5th. Morgan Stanley reiterated an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Friday, September 5th. Finally, China Renaissance restated a “hold” rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $326.74.

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.