Commonwealth Financial Services LLC Acquires 95 Shares of Tesla, Inc. (NASDAQ:TSLA)

Commonwealth Financial Services LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 945 shares of the electric vehicle producer’s stock after buying an additional 95 shares during the period. Commonwealth Financial Services LLC’s holdings in Tesla were worth $187,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC grew its position in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. ARK Investment Management LLC grew its position in Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after purchasing an additional 135,966 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after buying an additional 412,872 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 4.9 %

NASDAQ:TSLA opened at $250.00 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The stock’s fifty day moving average price is $221.24 and its two-hundred day moving average price is $196.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a market cap of $797.30 billion, a P/E ratio of 63.78, a P/E/G ratio of 6.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on TSLA. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research report on Wednesday, July 24th. Royal Bank of Canada decreased their price objective on Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group dropped their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Finally, Mizuho raised their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $209.60.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of 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 document filed with the SEC, which is available 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 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 in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

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.