Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Paces Ferry Wealth Advisors LLC

Paces Ferry Wealth Advisors LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,370 shares of the electric vehicle producer’s stock after acquiring an additional 340 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Tesla were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank & Trust Co purchased a new stake in shares of Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the second quarter valued at approximately $26,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla during the fourth quarter worth $37,000. Kessler Investment Group LLC boosted its stake in shares of Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares during the period. Finally, Aspect Partners LLC increased its stake in Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after buying an additional 114 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA opened at $227.20 on Thursday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93. The stock has a market capitalization of $725.82 billion, a P/E ratio of 57.96, a P/E/G ratio of 6.00 and a beta of 2.29. The firm’s 50 day moving average is $221.44 and its 200-day moving average is $195.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last posted its quarterly 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 company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 EPS. Equities research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. The Goldman Sachs Group dropped their price target on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $209.60.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. 25.10% of the stock is currently owned by company 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.