REAP Financial Group LLC Increases Stake in Tesla, Inc. $TSLA

REAP Financial Group LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 52.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 862 shares of the electric vehicle producer’s stock after acquiring an additional 297 shares during the quarter. REAP Financial Group LLC’s holdings in Tesla were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC grew its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank grew its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC grew 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 purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla in the first quarter worth about $27,000. Finally, Chelsea Counsel Co. grew its holdings in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Dbs Bank increased their target price on shares of Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Stifel Nicolaus set a $483.00 target price on shares of Tesla and gave the stock a “buy” rating in a report on Wednesday. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Finally, Canaccord Genuity Group increased their target price on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $345.70.

Tesla Stock Performance

TSLA stock opened at $438.69 on Thursday. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.58, a PEG ratio of 15.92 and a beta of 2.08. The firm has a 50-day simple moving average of $371.20 and a two-hundred day simple moving average of $325.56. Tesla, Inc. has a one year low of $212.11 and a one year 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.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. On average, equities 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 2,606 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by insiders.

Tesla Company 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.