Tesla, Inc. (NASDAQ:TSLA) Stock Position Increased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.2% in the second quarter, Holdings Channel reports. The institutional investor owned 29,156 shares of the electric vehicle producer’s stock after buying an additional 4,690 shares during the quarter. Tesla accounts for about 2.1% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 5th biggest position. Newbridge Financial Services Group Inc.’s holdings in Tesla were worth $5,769,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Integris Wealth Management LLC raised its holdings in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the last quarter. Echo Wealth Management LLC raised its stake in shares of Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co lifted its holdings in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares in the last quarter. Bellevue Asset Management LLC boosted its position in shares of Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after buying an additional 45 shares during the last quarter. Finally, Cypress Capital Group increased its holdings in Tesla by 1.7% in the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after buying an additional 47 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 over the last 90 days. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $258.02 on Wednesday. The company has a market cap of $824.28 billion, a P/E ratio of 65.82, a P/E/G ratio of 7.08 and a beta of 2.29. The business’s 50 day moving average price is $222.33 and its 200-day moving average price is $200.24. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TSLA shares. Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Argus restated a “buy” rating and set a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Finally, The Goldman Sachs Group cut their target price on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $209.90.

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.