Monetta Financial Services Inc. Increases Stock Holdings in Tesla, Inc. $TSLA

Monetta Financial Services Inc. grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 16.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the electric vehicle producer’s stock after purchasing an additional 1,000 shares during the quarter. Tesla comprises about 1.6% of Monetta Financial Services Inc.’s holdings, making the stock its 16th biggest holding. Monetta Financial Services Inc.’s holdings in Tesla were worth $2,224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TSLA. First Merchants Corp grew its position in shares of Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after buying an additional 31 shares during the period. Alaska Wealth Advisors lifted its holdings in shares of Tesla by 3.4% during the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after purchasing an additional 32 shares during the last quarter. KWB Wealth grew its stake in shares of Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. raised its stake in Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after buying an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. grew its stake in shares of Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after acquiring an additional 34 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Roth Capital set a $505.00 price objective on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. Barclays reaffirmed a “negative” rating and set a $350.00 price target (up previously from $275.00) on shares of Tesla in a report on Thursday, October 16th. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and ten have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $391.08.

Tesla Trading Down 2.1%

Shares of TSLA stock opened at $430.60 on Thursday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The firm has a fifty day moving average price of $427.33 and a 200-day moving average price of $359.18. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 287.07, a PEG ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the previous year, the business earned $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 202,606 shares of company stock worth $75,588,902 in the last three months. 19.90% of the stock is owned by company 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.