Sfmg LLC Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sfmg LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,918 shares of the electric vehicle producer’s stock after buying an additional 106 shares during the period. Sfmg LLC’s holdings in Tesla were worth $2,358,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Morse Asset Management Inc increased its stake in shares of Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after purchasing an additional 3,462 shares in the last quarter. Atalanta Sosnoff Capital LLC increased its stake in shares of Tesla by 3.7% in the 4th quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock worth $45,546,000 after purchasing an additional 6,575 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Tesla by 7.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after purchasing an additional 1,943 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Tesla in the 1st quarter worth $1,941,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after purchasing an additional 206,248 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, September 5th. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and upped their target price for the stock from $147.00 to $197.00 in a report on Friday, July 12th. KGI Securities reaffirmed a “neutral” rating and issued a $236.00 target price on shares of Tesla in a report on Thursday, July 25th. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a report on Friday, July 5th. Finally, Barclays dropped their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $209.60.

Tesla Stock Performance

NASDAQ TSLA opened at $254.27 on Wednesday. The company has a market cap of $812.30 billion, a P/E ratio of 64.86, a P/E/G ratio of 6.80 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The business’s 50 day moving average price is $221.20 and its 200-day moving average price is $197.14. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. Tesla’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

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.