IFG Advisory LLC Has $5.55 Million Stock Holdings in Tesla, Inc. $TSLA

IFG Advisory LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 11.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,480 shares of the electric vehicle producer’s stock after buying an additional 1,804 shares during the quarter. IFG Advisory LLC’s holdings in Tesla were worth $5,553,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Elite Life Management LLC increased its stake in shares of Tesla by 74.2% in the second quarter. Elite Life Management LLC now owns 1,571 shares of the electric vehicle producer’s stock valued at $499,000 after buying an additional 669 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Tesla by 9.3% in the second quarter. Pinnacle Associates Ltd. now owns 55,717 shares of the electric vehicle producer’s stock valued at $17,699,000 after buying an additional 4,739 shares in the last quarter. FWG Investments LLC. acquired a new stake in shares of Tesla in the second quarter valued at $323,000. Amplius Wealth Advisors LLC increased its stake in shares of Tesla by 2.3% in the second quarter. Amplius Wealth Advisors LLC now owns 1,622 shares of the electric vehicle producer’s stock valued at $515,000 after buying an additional 36 shares in the last quarter. Finally, Silver Coast Investments LLC increased its stake in shares of Tesla by 6.8% in the second quarter. Silver Coast Investments LLC now owns 3,821 shares of the electric vehicle producer’s stock valued at $1,214,000 after buying an additional 243 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research reports. Evercore ISI lowered their target price on Tesla from $300.00 to $235.00 in a research note on Friday, October 24th. Mizuho raised their price target on Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. China Renaissance raised their price target on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a report on Friday, October 24th. TD Cowen raised their price target on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Barclays reiterated a “negative” rating and issued a $350.00 price target (up previously from $275.00) on shares of Tesla in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $388.51.

Tesla Price Performance

Shares of TSLA opened at $440.10 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The stock has a market cap of $1.46 trillion, a P/E ratio of 293.40, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. The stock’s 50-day moving average price is $408.19 and its two-hundred day moving average price is $346.05.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter last year, the business earned $0.72 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 120,000 shares of the firm’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 sale, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

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.