5,351 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by Fairscale Capital LLC

Fairscale Capital LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,351 shares of the electric vehicle producer’s stock, valued at approximately $1,059,000. Tesla accounts for 0.9% of Fairscale Capital LLC’s investment portfolio, making the stock its 25th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Tesla in the 2nd quarter valued at $5,532,000. RW Investment Management LLC boosted its stake in Tesla by 3.8% in the second quarter. RW Investment Management LLC now owns 2,801 shares of the electric vehicle producer’s stock valued at $554,000 after buying an additional 102 shares in the last quarter. Bridgewealth Advisory Group LLC bought a new position in Tesla in the second quarter valued at about $214,000. Frank Rimerman Advisors LLC raised its stake in Tesla by 1,125.7% during the second quarter. Frank Rimerman Advisors LLC now owns 31,427 shares of the electric vehicle producer’s stock worth $6,219,000 after acquiring an additional 28,863 shares in the last quarter. Finally, Holderness Investments Co. lifted its holdings in shares of Tesla by 10.0% in the second quarter. Holderness Investments Co. now owns 3,198 shares of the electric vehicle producer’s stock worth $633,000 after acquiring an additional 290 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on 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 completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred 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 in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. KGI Securities reissued a “neutral” rating and set a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a report on Thursday, September 5th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $209.60.

Tesla Stock Down 2.3 %

Tesla stock opened at $238.25 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $221.30 and its two-hundred day moving average price is $195.94. The firm has a market capitalization of $759.83 billion, a price-to-earnings ratio of 60.78, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business 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 revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. On average, equities research analysts predict that Tesla, Inc. will post 1.75 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.