C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases 1,155 Shares of Tesla, Inc. $TSLA

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in Tesla, Inc. (NASDAQ:TSLA) by 34.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,486 shares of the electric vehicle producer’s stock after buying an additional 1,155 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Tesla were worth $1,425,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. boosted its holdings in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the period. Nuveen LLC bought a new position in shares of Tesla during the 1st quarter valued at about $3,247,619,000. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the last quarter. Amundi boosted its holdings in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.7%

Shares of NASDAQ TSLA opened at $456.56 on Friday. The firm’s 50-day moving average price is $410.52 and its 200-day moving average price is $348.12. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 304.37, a P/E/G ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 19.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Glj Research reissued a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. UBS Group set a $247.00 price objective on shares of Tesla in a report on Monday, October 6th. New Street Research increased their price objective on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. CICC Research increased their price objective on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Finally, William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $390.27.

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.