Brightwater Advisory LLC Takes $332,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Brightwater Advisory LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,680 shares of the electric vehicle producer’s stock, valued at approximately $332,000.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Bank & Trust Co purchased a new position in shares of Tesla in the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter worth $26,000. Abich Financial Wealth Management LLC raised its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter worth $37,000. Finally, Kessler Investment Group LLC increased its holdings in Tesla by 35.9% in the 2nd 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 in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred 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 $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the 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 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 SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’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 completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 in the last three months. Company insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $258.02 on Wednesday. The stock has a market capitalization of $824.28 billion, a price-to-earnings ratio of 65.82, a PEG ratio of 7.08 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. 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 has a fifty day simple moving average of $222.33 and a 200-day simple moving average of $200.24.

Tesla (NASDAQ:TSLA) last posted 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TSLA shares. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Argus restated a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. William Blair assumed coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, KGI Securities reiterated a “neutral” rating and set a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $209.90.

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.