Frank Rimerman Advisors LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Frank Rimerman Advisors LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1,125.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,427 shares of the electric vehicle producer’s stock after buying an additional 28,863 shares during the period. Tesla accounts for approximately 0.4% of Frank Rimerman Advisors LLC’s portfolio, making the stock its 28th biggest holding. Frank Rimerman Advisors LLC’s holdings in Tesla were worth $6,219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank & Trust Co purchased a new position in Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla during the second quarter worth about $26,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla in the 4th quarter worth approximately $37,000. Kessler Investment Group LLC increased its position 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 buying an additional 51 shares in the last quarter. Finally, Aspect Partners LLC increased its holdings in Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’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 completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were 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 $14,967,479.07. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Tesla Stock Down 2.3 %

Shares of NASDAQ TSLA opened at $238.25 on Friday. The company has a market cap of $759.83 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 6.00 and a beta of 2.29. 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 stock has a 50-day moving average price of $221.30 and a two-hundred day moving average price of $195.94. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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 business 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%. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. As a group, analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of a number of recent research reports. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. TD Cowen lifted their price target on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Mizuho boosted their price objective on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $254.00 target price on shares of Tesla in a research report on Friday, September 13th. 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 stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $209.60.

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.