Drake & Associates LLC Takes $207,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Drake & Associates LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 791 shares of the electric vehicle producer’s stock, valued at approximately $207,000.

A number of other hedge funds also recently modified their holdings of TSLA. Lakewood Asset Management LLC acquired a new stake in shares of Tesla during the 4th quarter worth about $25,000. Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla during the 3rd quarter worth about $27,000. GW&K Investment Management LLC acquired a new stake in shares of Tesla during the 1st quarter worth about $30,000. MayTech Global Investments LLC acquired a new stake in shares of Tesla during the 4th quarter worth about $30,000. Finally, St. Johns Investment Management Company LLC lifted its stake in shares of Tesla by 451.9% during the 1st quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 41.87% of the company’s stock.

Tesla Stock Down 0.6 %

Shares of NASDAQ TSLA opened at $274.39 on Monday. The company has a market capitalization of $870.91 billion, a P/E ratio of 77.73, a price-to-earnings-growth ratio of 4.30 and a beta of 2.09. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $313.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59. The company’s 50 day moving average price is $255.83 and its 200-day moving average price 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. The firm had revenue of $24.93 billion for the quarter, compared to the consensus estimate of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 EPS. Equities analysts forecast that Tesla, Inc. will post 2.94 earnings per share for the current year.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Zachary Kirkhorn sold 3,750 shares of the business’s stock in a transaction 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 in the company, valued at approximately $55,054,398. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,815 shares of company stock worth $14,384,135. Company insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Tesla from $225.00 to $300.00 in a research note on Thursday, July 6th. Barclays cut shares of Tesla from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $220.00 to $260.00 in a research note on Wednesday, June 21st. Wells Fargo & Company lifted their price objective on shares of Tesla from $170.00 to $265.00 and gave the stock an “equal weight” rating in a research note on Monday, July 17th. Robert W. Baird lifted their price objective on shares of Tesla from $252.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $150.00 price objective on shares of Tesla in a research note on Thursday, July 20th. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target 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.