Stephenson & Company Inc. Makes New Investment in Tesla, Inc. $TSLA

Stephenson & Company Inc. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the second quarter, HoldingsChannel.com reports. The firm acquired 779 shares of the electric vehicle producer’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Merchants Corp lifted its position in Tesla by 1.3% in the second 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 last quarter. Alaska Wealth Advisors raised its stake in shares of Tesla by 3.4% in the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after acquiring an additional 32 shares during the period. KWB Wealth raised its stake in shares of Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after acquiring an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. lifted its holdings in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after acquiring an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. boosted its stake in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TSLA shares. Evercore ISI increased their price objective on shares of Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. New Street Research upped their target price on Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Dbs Bank upgraded Tesla to a “hold” rating in a report on Wednesday, November 5th. China Renaissance raised their price target on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research note on Friday, October 24th. Finally, The Goldman Sachs Group cut their price objective on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $393.61.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Trading Down 6.6%

NASDAQ TSLA opened at $401.99 on Friday. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 267.99, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company’s 50-day simple moving average is $428.60 and its two-hundred day simple moving average is $359.48.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm 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 company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.