Sunburst Financial Group LLC Buys 112 Shares of Tesla, Inc. $TSLA

Sunburst Financial Group LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,311 shares of the electric vehicle producer’s stock after acquiring an additional 112 shares during the period. Sunburst Financial Group LLC’s holdings in Tesla were worth $417,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after acquiring an additional 849,091 shares in the last quarter. Amundi lifted its stake in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 2.6%

Shares of TSLA opened at $468.37 on Tuesday. The business has a 50-day moving average of $412.95 and a 200 day moving average of $350.47. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a market cap of $1.56 trillion, a P/E ratio of 312.25, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSLA. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research report on Wednesday, October 15th. Roth Capital set a $505.00 target price on Tesla and gave the company a “buy” rating in a research report on Thursday, October 23rd. Evercore ISI raised their target price on Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Tesla in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $390.27.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last quarter. 19.90% of the stock is currently owned by corporate insiders.

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. 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.