Thompson Davis & CO. Inc. Grows Stake in Tesla, Inc. $TSLA

Thompson Davis & CO. Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 51.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,538 shares of the electric vehicle producer’s stock after purchasing an additional 858 shares during the quarter. Thompson Davis & CO. Inc.’s holdings in Tesla were worth $807,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Chelsea Counsel Co. lifted its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Tesla during the second quarter valued at about $29,000. Evergreen Private Wealth LLC increased its holdings in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the last quarter. Glynn Capital Management LLC purchased a new stake in shares of Tesla in the second quarter worth about $35,000. Finally, Pacific Center for Financial Services grew its holdings in Tesla by 44.7% during the 1st quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent research reports. Mizuho upped their price objective on Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Stifel Nicolaus set a $483.00 price objective on shares of Tesla and gave the company a “buy” rating in a research report on Wednesday, October 8th. Benchmark restated a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. Roth Capital set a $505.00 price target on shares of Tesla and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Industrial Alliance Securities set a $300.00 price objective on Tesla in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and ten have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $391.08.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 in the last three months. Company insiders own 19.90% of the company’s stock.

Tesla Stock Down 2.1%

Shares of NASDAQ:TSLA opened at $421.49 on Thursday. The firm has a market capitalization of $1.40 trillion, a PE ratio of 281.00, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The business has a 50 day simple moving average of $427.33 and a two-hundred day simple moving average of $359.18. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. 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 issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 6.61% and a net margin of 5.51%.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 posted $0.72 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current 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.