Tesla, Inc. $TSLA Shares Bought by Shariaportfolio Inc.

Shariaportfolio Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.4% in the second quarter, HoldingsChannel.com reports. The fund owned 114,845 shares of the electric vehicle producer’s stock after purchasing an additional 7,897 shares during the period. Tesla makes up about 15.6% of Shariaportfolio Inc.’s investment portfolio, making the stock its biggest position. Shariaportfolio Inc.’s holdings in Tesla were worth $36,482,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank raised its position in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC raised its position in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the first quarter valued at about $27,000. Finally, Chelsea Counsel Co. raised its position in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 0.7%

Shares of TSLA stock opened at $435.54 on Friday. 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 firm has a market cap of $1.45 trillion, a PE ratio of 251.76, a price-to-earnings-growth ratio of 16.04 and a beta of 2.08. The company has a 50-day moving average of $373.75 and a two-hundred day moving average of $326.64. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other 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 transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s 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 completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Canaccord Genuity Group upped their price objective on shares of Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Royal Bank Of Canada reissued a “buy” rating on shares of Tesla in a report on Friday, September 26th. Glj Research reissued a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Finally, Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $320.00 to $548.00 in a report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $349.37.

About Tesla

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.