Ethos Financial Group LLC Increases Stock Position in Tesla, Inc. $TSLA

Ethos Financial Group LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 30.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,176 shares of the electric vehicle producer’s stock after acquiring an additional 3,564 shares during the quarter. Ethos Financial Group LLC’s holdings in Tesla were worth $4,821,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Siren L.L.C. bought a new stake in Tesla during the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC boosted its stake in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after acquiring an additional 826 shares during the last quarter. Keystone Global Partners LLC bought a new stake in shares of Tesla during the 1st quarter valued at $594,000. Strs Ohio purchased a new stake in shares of Tesla in the 1st quarter worth $205,495,000. Finally, AustralianSuper Pty Ltd raised its holdings in Tesla by 1,823.0% in the 2nd quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock worth $21,704,000 after purchasing an additional 64,772 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on TSLA shares. Royal Bank Of Canada restated an “outperform” rating and issued a $500.00 price target on shares of Tesla in a research report on Thursday, October 23rd. HSBC increased their target price on shares of Tesla from $120.00 to $127.00 in a report on Monday, September 29th. Melius Research set a $520.00 price target on shares of Tesla and gave the company a “buy” rating in a report on Monday, October 13th. CICC Research increased their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Finally, UBS Group set a $247.00 target price on shares of Tesla in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $391.08.

Tesla Stock Up 4.0%

NASDAQ:TSLA opened at $462.07 on Thursday. The company has a market cap of $1.54 trillion, a price-to-earnings ratio of 308.05, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $417.05 and a 200-day simple moving average of $352.68.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. Analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The shares were 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 owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last quarter. 19.90% of the stock is owned by corporate insiders.

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.