Mainstream Capital Management LLC Acquires 172 Shares of Tesla, Inc. $TSLA

Mainstream Capital Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,252 shares of the electric vehicle producer’s stock after buying an additional 172 shares during the period. Tesla makes up 1.2% of Mainstream Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Mainstream Capital Management LLC’s holdings in Tesla were worth $1,668,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Means Investment CO. Inc. raised its position in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. increased its stake 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 purchasing an additional 670 shares in the last quarter. Siren L.L.C. acquired a new stake in shares of Tesla in the 1st quarter worth about $2,332,000. Zuckerman Investment Group LLC raised its stake in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares during the last quarter. Finally, Keystone Global Partners LLC bought a new stake in Tesla during the first quarter worth $594,000. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $425.85 on Wednesday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.42 trillion, a P/E ratio of 246.16, a P/E/G ratio of 15.15 and a beta of 2.06. The company has a 50 day moving average of $345.33 and a 200 day moving average of $310.67.

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 the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TSLA. The Goldman Sachs Group raised their price objective on Tesla from $300.00 to $395.00 and gave the company a “neutral” rating in a research note on Thursday, September 18th. CICC Research raised their price target on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Bank of America upped their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Piper Sandler lifted their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, China Renaissance restated a “hold” rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $326.74.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 in the last ninety days. 19.90% of the stock is currently owned by insiders.

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.