Mainsail Asset Management LLC Purchases 51 Shares of Tesla, Inc. $TSLA

Mainsail Asset Management LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,786 shares of the electric vehicle producer’s stock after acquiring an additional 51 shares during the period. Tesla makes up 0.7% of Mainsail Asset Management LLC’s portfolio, making the stock its 17th biggest holding. Mainsail Asset Management LLC’s holdings in Tesla were worth $1,203,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. REAP Financial Group LLC raised its stake in Tesla by 52.6% during the 2nd quarter. REAP Financial Group LLC now owns 862 shares of the electric vehicle producer’s stock valued at $274,000 after purchasing an additional 297 shares during the last quarter. Sax Wealth Advisors LLC increased its holdings in shares of Tesla by 40.1% during the 2nd quarter. Sax Wealth Advisors LLC now owns 4,795 shares of the electric vehicle producer’s stock worth $1,523,000 after purchasing an additional 1,373 shares during the period. Venturi Wealth Management LLC raised its position in shares of Tesla by 31.1% during the second quarter. Venturi Wealth Management LLC now owns 17,306 shares of the electric vehicle producer’s stock valued at $5,497,000 after buying an additional 4,105 shares during the last quarter. TPG Financial Advisors LLC lifted its stake in shares of Tesla by 7.8% in the second quarter. TPG Financial Advisors LLC now owns 1,994 shares of the electric vehicle producer’s stock valued at $633,000 after buying an additional 144 shares during the period. Finally, First Financial Group Corp grew its position in Tesla by 5.0% during the second quarter. First Financial Group Corp now owns 2,081 shares of the electric vehicle producer’s stock worth $661,000 after buying an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $355.00 price objective on shares of Tesla in a report on Friday, October 3rd. William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Finally, Stifel Nicolaus set a $483.00 price objective on Tesla and gave the stock a “buy” rating in a report on Wednesday. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $345.70.

Tesla Stock Performance

Tesla stock opened at $438.69 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a fifty day moving average price of $371.20 and a two-hundred day moving average price of $325.56. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 253.58, a P/E/G ratio of 15.92 and a beta of 2.08.

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

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.