Affiance Financial LLC Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Affiance Financial LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,905 shares of the electric vehicle producer’s stock after buying an additional 269 shares during the quarter. Affiance Financial LLC’s holdings in Tesla were worth $773,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Bank & Trust Co acquired a new position in Tesla during the 2nd quarter worth about $25,000. OLD Point Trust & Financial Services N A purchased a new position in Tesla in the 4th quarter valued at approximately $37,000. Guardian Wealth Management Inc. purchased a new stake in shares of Tesla during the fourth quarter worth $47,000. Kessler Investment Group LLC raised its stake in shares of Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares in the last quarter. Finally, A.P. Gilfoyle & Co. L.P. purchased a new stake in Tesla during the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.8 %

Shares of Tesla stock opened at $214.11 on Tuesday. The company has a market cap of $684.00 billion, a P/E ratio of 54.62, a PEG ratio of 5.55 and a beta of 2.29. The firm has a fifty day moving average of $222.63 and a two-hundred day moving average of $193.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 1.79 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the subject of several analyst reports. Canaccord Genuity Group boosted their price target on shares of Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Argus reaffirmed a “buy” rating and set a $286.00 price objective on shares of Tesla in a research report on Friday, July 26th. Barclays cut their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Finally, KGI Securities reissued a “neutral” rating and set a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $204.21.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

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.