Alpha Financial Partners LLC Purchases Shares of 1,028 Tesla, Inc. (NASDAQ:TSLA)

Alpha Financial Partners LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,028 shares of the electric vehicle producer’s stock, valued at approximately $203,000.

Several other hedge funds have also modified their holdings of TSLA. Bank & Trust Co bought a new stake in Tesla in the second quarter worth $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter worth about $26,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla during the 4th quarter valued at about $37,000. Kessler Investment Group LLC lifted its holdings in shares of Tesla by 35.9% in the 2nd 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 during the last quarter. Finally, Aspect Partners LLC grew its position in Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 1.5 %

NASDAQ:TSLA opened at $226.78 on Tuesday. The company’s 50-day simple moving average is $222.85 and its 200-day simple moving average is $194.75. 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 fifty-two week low of $138.80 and a fifty-two week high of $273.93. The stock has a market capitalization of $723.25 billion, a P/E ratio of 57.85, a P/E/G ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated 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 $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Robyn M. Denholm sold 66,364 shares of the business’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 sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were 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 directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TSLA. The Goldman Sachs Group lowered their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada lowered their price target on Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. HSBC boosted their price objective on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Robert W. Baird restated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $254.00 price target on shares of Tesla in a report on Friday. 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 stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $209.60.

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.