Gradient Investments LLC Purchases 516 Shares of Tesla, Inc. $TSLA

Gradient Investments LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,876 shares of the electric vehicle producer’s stock after purchasing an additional 516 shares during the period. Gradient Investments LLC’s holdings in Tesla were worth $2,820,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Means Investment CO. Inc. lifted its position in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. lifted its position in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after acquiring an additional 670 shares during the period. Siren L.L.C. purchased a new position in Tesla during the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC lifted its position in Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares during the period. Finally, Keystone Global Partners LLC purchased a new position in Tesla during the 1st quarter valued at about $594,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 3.6%

Shares of Tesla stock opened at $410.04 on Tuesday. The company has a 50-day simple moving average of $331.21 and a two-hundred day simple moving average of $304.53. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock has a market capitalization of $1.32 trillion, a PE ratio of 237.02, a price-to-earnings-growth ratio of 13.81 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business’s revenue was down 11.8% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on TSLA shares. Mizuho lowered their price target on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. William Blair reissued a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. UBS Group set a $290.00 target price on shares of Tesla in a report on Monday, June 30th. Finally, Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $303.00.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on 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 owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,606 shares of company stock worth $51,999,662 over the last three months. 20.70% of the stock is currently owned by company insiders.

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.