Affiance Financial LLC Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Affiance Financial LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,644 shares of the electric vehicle producer’s stock after acquiring an additional 53 shares during the period. Tesla accounts for approximately 0.8% of Affiance Financial LLC’s investment portfolio, making the stock its 27th biggest holding. Affiance Financial LLC’s holdings in Tesla were worth $1,739,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Tesla in the 4th quarter valued at $3,459,540,000. Moneta Group Investment Advisors LLC grew its holdings in shares of Tesla by 180,125.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after buying an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Tesla by 203.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after acquiring an additional 13,558,882 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Tesla by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,224,189 shares of the electric vehicle producer’s stock worth $5,440,471,000 after purchasing an additional 9,034,938 shares during the last quarter. Finally, Morgan Stanley increased its stake in Tesla by 26.3% in the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after buying an additional 5,292,464 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TSLA shares. Bank of America increased their target price on Tesla from $225.00 to $300.00 in a research note on Thursday, July 6th. JPMorgan Chase & Co. upped their target price on shares of Tesla from $115.00 to $120.00 and gave the stock an “underweight” rating in a research report on Monday, July 3rd. Citigroup upped their price target on Tesla from $215.00 to $278.00 and gave the stock a “neutral” rating in a report on Wednesday, July 12th. Barclays downgraded Tesla from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $220.00 to $260.00 in a research report on Wednesday, June 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 3rd. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $239.43.

Insider Activity

In related news, SVP Xiaotong Zhu sold 1,065 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the sale, the senior vice president now directly owns 59,540 shares of the company’s stock, valued at approximately $14,862,374.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Zachary Kirkhorn sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the transaction, the chief financial officer now owns 197,540 shares of the company’s stock, valued at $55,054,398. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 1,065 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total transaction of $265,845.30. Following the completion of the sale, the senior vice president now directly owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The disclosure for this sale can be found here. Insiders sold 55,815 shares of company stock worth $14,384,135 over the last quarter. Corporate insiders own 20.90% of the company’s stock.

Tesla Trading Down 3.3 %

Shares of TSLA stock opened at $265.28 on Tuesday. The stock has a 50-day simple moving average of $255.83 and a 200 day simple moving average of $220.81. The stock has a market capitalization of $842.00 billion, a P/E ratio of 75.15, a P/E/G ratio of 4.28 and a beta of 2.09. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $313.80. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The company had revenue of $24.93 billion during the quarter, compared to analyst estimates of $24.22 billion. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.

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. It 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, retail merchandise, and vehicle insurance services.