Prospera Financial Services Inc Increases Position in Tesla, Inc. $TSLA

Prospera Financial Services Inc raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 38.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,238 shares of the electric vehicle producer’s stock after buying an additional 13,800 shares during the period. Prospera Financial Services Inc’s holdings in Tesla were worth $15,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.5% in the first 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 period. Goldman Sachs Group Inc. boosted its holdings in Tesla by 322.1% in the first 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 period. Charles Schwab Investment Management Inc. grew 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 worth $4,710,218,000 after purchasing an additional 849,091 shares in the last quarter. Amundi increased its holdings in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Tesla by 17.6% in 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 buying an additional 2,211,300 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TSLA. Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. President Capital lifted their price target on Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. William Blair reiterated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eleven have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $391.08.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

Tesla Trading Down 3.7%

NASDAQ TSLA opened at $429.52 on Friday. The firm’s fifty day moving average is $420.97 and its two-hundred day moving average is $354.73. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market cap of $1.43 trillion, a PE ratio of 286.35, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current 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.