Tesla, Inc. $TSLA Shares Purchased by Strong Tower Advisory Services

Strong Tower Advisory Services increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 34,061 shares of the electric vehicle producer’s stock after buying an additional 492 shares during the quarter. Tesla makes up 2.1% of Strong Tower Advisory Services’ portfolio, making the stock its 10th largest position. Strong Tower Advisory Services’ holdings in Tesla were worth $10,820,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TSLA. Means Investment CO. Inc. raised its holdings in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Siren L.L.C. acquired a new position in Tesla in the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC raised its holdings in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares during the last quarter. Keystone Global Partners LLC acquired a new position in Tesla in the 1st quarter valued at $594,000. Finally, Strs Ohio acquired a new position in Tesla in the 1st quarter valued at $205,495,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

Tesla Stock Down 5.1%

Shares of Tesla stock opened at $413.49 on Friday. The company has a fifty day moving average price of $375.97 and a 200 day moving average price of $327.89. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a price-to-earnings-growth ratio of 15.01 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period last year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on TSLA shares. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Bank of America boosted their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Stifel Nicolaus set a $483.00 price objective on shares of Tesla and gave the company a “buy” rating in a research note on Wednesday. Dbs Bank boosted their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $355.00 price objective on shares of Tesla in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $354.67.

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.