Paragon Financial Partners Inc. Raises Holdings in Tesla, Inc. $TSLA

Paragon Financial Partners Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,991 shares of the electric vehicle producer’s stock after buying an additional 81 shares during the period. Tesla accounts for about 0.6% of Paragon Financial Partners Inc.’s holdings, making the stock its 27th largest holding. Paragon Financial Partners Inc.’s holdings in Tesla were worth $950,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TSLA. Brighton Jones LLC raised its position in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after acquiring an additional 931 shares in the last quarter. Bison Wealth LLC grew its stake in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after acquiring an additional 3,558 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Tesla by 6.0% during the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock valued at $9,812,000 after acquiring an additional 2,153 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Tesla by 486.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 692 shares of the electric vehicle producer’s stock valued at $179,000 after acquiring an additional 574 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred 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 sale, the chief financial officer 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were 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 trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $438.97 on Thursday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $393.73 and its two-hundred day moving average price is $336.97. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 253.74, a P/E/G ratio of 15.91 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSLA. Evercore ISI raised their target price on Tesla from $235.00 to $300.00 and gave the company an “in-line” rating in a research note on Monday, October 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Tesla in a research report on Monday. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $363.54.

Tesla Company 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.