Fulton Breakefield Broenniman LLC Boosts Stock Position in Tesla, Inc. $TSLA

Fulton Breakefield Broenniman LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,476 shares of the electric vehicle producer’s stock after buying an additional 302 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Tesla were worth $2,375,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in 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. Goldman Sachs Group Inc. boosted its stake in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after purchasing an additional 849,091 shares during the last quarter. Amundi boosted its stake in 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, Invesco Ltd. boosted its stake in Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

NASDAQ TSLA opened at $413.49 on Friday. The company has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 15.81 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The business’s fifty day moving average is $375.97 and its 200 day moving average is $327.51. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the topic of several recent analyst reports. Canaccord Genuity Group increased their target price on Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. UBS Group set a $247.00 price target on Tesla in a research note on Monday. HSBC raised their price target on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. CICC Research raised their price target on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Finally, Bank of America raised their price target on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $354.67.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s 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 sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last ninety days. 19.90% of the stock is currently owned by company insiders.

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.