242 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Quarry LP

Quarry LP purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 242 shares of the electric vehicle producer’s stock, valued at approximately $48,000.

Several other hedge funds have also recently bought and sold shares of the stock. Invst LLC boosted its position in Tesla by 23.6% in the second quarter. Invst LLC now owns 6,188 shares of the electric vehicle producer’s stock valued at $1,299,000 after buying an additional 1,180 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Tesla by 1.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 249,279 shares of the electric vehicle producer’s stock worth $49,327,000 after acquiring an additional 2,349 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Tesla by 12.9% during the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after purchasing an additional 27,130 shares in the last quarter. Silver Lake Advisory LLC bought a new position in Tesla in the 2nd quarter valued at $4,582,000. Finally, Nemes Rush Group LLC boosted its stake in Tesla by 2.7% in the second quarter. Nemes Rush Group LLC now owns 11,715 shares of the electric vehicle producer’s stock worth $2,318,000 after purchasing an additional 307 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s 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 owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 over the last three months. Company insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Citigroup lowered their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Wolfe Research began coverage on shares of Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. Morgan Stanley reissued an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Thursday. Finally, William Blair assumed coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Nine 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $210.54.

Tesla Price Performance

NASDAQ TSLA opened at $250.08 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market cap of $798.92 billion, a price-to-earnings ratio of 63.80, a PEG ratio of 6.79 and a beta of 2.29. The business has a 50 day simple moving average of $224.00 and a 200 day simple moving average of $201.39. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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). The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 earnings per share. Analysts anticipate that Tesla, Inc. will post 1.74 earnings per share for the current fiscal year.

About Tesla

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.