MGO One Seven LLC Acquires 2,585 Shares of Tesla, Inc. $TSLA

MGO One Seven LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,835 shares of the electric vehicle producer’s stock after buying an additional 2,585 shares during the period. MGO One Seven LLC’s holdings in Tesla were worth $11,066,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Bison Wealth LLC increased its stake in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares during the period. GAMMA Investing LLC increased its position in Tesla by 6.0% during the 1st quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock valued at $9,812,000 after purchasing an additional 2,153 shares during the period. Finally, Aries Wealth Management raised its stake in Tesla by 7.9% in the first quarter. Aries Wealth Management now owns 1,000 shares of the electric vehicle producer’s stock worth $259,000 after buying an additional 73 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research reports. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. TD Cowen lifted their target price on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Melius started coverage on Tesla in a report on Monday. They set a “buy” rating and a $520.00 price target on the stock. China Renaissance reiterated a “hold” rating and issued a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Finally, Wedbush boosted their target price on Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $363.03.

Tesla Stock Up 5.4%

TSLA stock opened at $435.90 on Tuesday. The business’s 50-day moving average is $378.50 and its two-hundred day moving average is $329.48. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 251.97, a P/E/G ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. 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 released 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 business 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’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 of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last 90 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.