Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Ignite Planners LLC

Ignite Planners LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,343 shares of the electric vehicle producer’s stock after purchasing an additional 771 shares during the period. Tesla comprises about 1.9% of Ignite Planners LLC’s holdings, making the stock its 8th largest position. Ignite Planners LLC’s holdings in Tesla were worth $5,034,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MidWestOne Financial Group Inc. boosted its stake in shares of Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after buying an additional 15 shares during the period. Linscomb & Williams Inc. raised its stake in Tesla by 3.5% during the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after acquiring an additional 42 shares during the last quarter. Indiana Trust & Investment Management CO lifted its position in Tesla by 1.5% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,998 shares of the electric vehicle producer’s stock worth $785,000 after acquiring an additional 45 shares during the period. Salem Investment Counselors Inc. grew its stake in shares of Tesla by 22.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 263 shares of the electric vehicle producer’s stock valued at $283,000 after purchasing an additional 48 shares during the last quarter. Finally, Affiance Financial LLC increased its holdings in shares of Tesla by 0.8% in the second quarter. Affiance Financial LLC now owns 6,644 shares of the electric vehicle producer’s stock valued at $1,739,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total value of $2,552,865.00. Following the transaction, the senior vice president now owns 66,834 shares in the company, valued at approximately $16,249,350.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total value of $2,552,865.00. Following the transaction, the senior vice president now owns 66,834 shares in the company, valued at $16,249,350.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 sale, the senior vice president now owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,815 shares of company stock valued at $14,384,135. Insiders own 20.90% of the company’s stock.

Tesla Trading Down 3.3 %

Shares of Tesla stock opened at $265.28 on Tuesday. The firm has a market cap of $842.00 billion, a PE ratio of 75.15, a P/E/G ratio of 4.28 and a beta of 2.09. 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, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $313.80. The business’s fifty day moving average is $255.83 and its two-hundred day moving average is $220.81.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The firm had revenue of $24.93 billion for the quarter, compared to analyst estimates of $24.22 billion. During the same period last year, the company earned $0.65 EPS. The firm’s quarterly revenue was up 47.2% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 2.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. Barclays downgraded Tesla from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $220.00 to $260.00 in a report on Wednesday, June 21st. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating in a report on Monday, June 12th. Guggenheim reissued a “sell” rating and set a $125.00 price target on shares of Tesla in a report on Monday. Robert W. Baird lifted their price objective on Tesla from $252.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, July 17th. Finally, Mizuho increased their target price on Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $239.43.

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. 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.