Retirement Planning Group LLC Boosts Holdings in Tesla, Inc. $TSLA

Retirement Planning Group LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 41.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,735 shares of the electric vehicle producer’s stock after buying an additional 799 shares during the period. Retirement Planning Group LLC’s holdings in Tesla were worth $869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Siren L.L.C. purchased a new stake in shares of Tesla during the 1st quarter worth $2,332,000. Zuckerman Investment Group LLC boosted its position in shares of Tesla by 6.9% during the 1st 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 in the last quarter. Keystone Global Partners LLC purchased a new stake in shares of Tesla during the 1st quarter worth $594,000. Strs Ohio purchased a new stake in shares of Tesla during the 1st quarter worth $205,495,000. Finally, IFM Investors Pty Ltd boosted its position in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after purchasing an additional 46,087 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BNP Paribas Exane assumed coverage on shares of Tesla in a research report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $355.00 price objective on shares of Tesla in a research report on Tuesday. Dbs Bank boosted their price objective on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Finally, Evercore ISI boosted their price objective on shares of Tesla from $235.00 to $300.00 and gave the stock an “in-line” rating in a research report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $363.54.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% 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, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Trading Down 0.8%

NASDAQ TSLA opened at $438.97 on Thursday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a 50-day moving average of $393.73 and a 200-day moving average of $336.97. 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 company has a market cap of $1.46 trillion, a P/E ratio of 253.74, a P/E/G ratio of 15.91 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the company earned $0.52 EPS. The company’s revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.