Menard Financial Group LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Menard Financial Group LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,491 shares of the electric vehicle producer’s stock after buying an additional 402 shares during the period. Menard Financial Group LLC’s holdings in Tesla were worth $691,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Atalanta Sosnoff Capital LLC increased its position in shares of Tesla by 3.7% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock worth $45,546,000 after acquiring an additional 6,575 shares during the period. Newbridge Financial Services Group Inc. grew its stake in Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after purchasing an additional 1,943 shares in the last quarter. Entropy Technologies LP purchased a new stake in Tesla during the 1st quarter worth about $1,941,000. Future Financial Wealth Managment LLC acquired a new stake in Tesla in the 1st quarter valued at about $79,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Tesla by 0.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock valued at $351,166,000 after buying an additional 6,034 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA stock opened at $230.29 on Monday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $223.37 and a 200-day simple moving average of $194.57. The company has a market cap of $734.44 billion, a price-to-earnings ratio of 58.75, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the business posted $0.78 EPS. Tesla’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday, September 5th. The Goldman Sachs Group dropped their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Tesla in a report on Wednesday, July 24th. Finally, Stifel Nicolaus started coverage on shares of Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price objective on the stock. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $209.60.

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.