Petix & Botte Co Takes Position in Tesla, Inc. $TSLA

Petix & Botte Co bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 660 shares of the electric vehicle producer’s stock, valued at approximately $210,000.

Several other large investors have also recently bought and sold shares of TSLA. Capital Investment Counsel Inc lifted its stake in Tesla by 1.6% in the second quarter. Capital Investment Counsel Inc now owns 3,530 shares of the electric vehicle producer’s stock valued at $1,121,000 after buying an additional 57 shares during the period. Francis Financial Inc. raised its holdings in shares of Tesla by 8.2% in the second quarter. Francis Financial Inc. now owns 1,374 shares of the electric vehicle producer’s stock valued at $436,000 after purchasing an additional 104 shares during the last quarter. Monetta Financial Services Inc. boosted its stake in shares of Tesla by 16.7% during the 2nd quarter. Monetta Financial Services Inc. now owns 7,000 shares of the electric vehicle producer’s stock worth $2,224,000 after buying an additional 1,000 shares during the last quarter. D Orazio & Associates Inc. grew its stake in shares of Tesla by 23.5% in the second quarter. D Orazio & Associates Inc. now owns 5,903 shares of the electric vehicle producer’s stock valued at $1,875,000 after buying an additional 1,124 shares in the last quarter. Finally, First Western Trust Bank increased its stake in shares of Tesla by 28.3% during the 2nd quarter. First Western Trust Bank now owns 1,368 shares of the electric vehicle producer’s stock worth $435,000 after purchasing an additional 302 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on 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 completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’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 transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last quarter. 19.90% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $430.60 on Thursday. The company’s fifty day moving average is $427.33 and its 200 day moving average is $359.18. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.43 trillion, a PE ratio of 287.07, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Roth Capital set a $505.00 target price on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, October 23rd. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. President Capital boosted their target price on Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. HSBC raised their price objective on Tesla from $120.00 to $127.00 in a report on Monday, September 29th. Finally, China Renaissance raised their target price on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and ten have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $391.08.

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.