Benjamin Edwards Inc. Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Benjamin Edwards Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 19.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,348 shares of the electric vehicle producer’s stock after purchasing an additional 3,525 shares during the quarter. Tesla accounts for about 0.8% of Benjamin Edwards Inc.’s portfolio, making the stock its 24th biggest position. Benjamin Edwards Inc.’s holdings in Tesla were worth $4,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atalanta Sosnoff Capital LLC increased its position in shares of Tesla by 3.7% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after acquiring an additional 6,575 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Tesla by 7.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after acquiring an additional 1,943 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of Tesla during the first quarter valued at approximately $1,941,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Tesla during the first quarter valued at approximately $79,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Tesla by 0.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock valued at $351,166,000 after acquiring an additional 6,034 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now 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 can be accessed through this link. In other 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 in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Monday. HSBC raised their target price on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Mizuho raised their target price on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Roth Mkm reissued a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Finally, Barclays decreased their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $209.60.

Tesla Trading Up 7.4 %

NASDAQ TSLA opened at $243.92 on Friday. The stock’s 50-day simple moving average is $221.50 and its two-hundred day simple moving average is $195.49. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $273.93. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $777.91 billion, a price-to-earnings ratio of 62.22, a PEG ratio of 6.00 and a beta of 2.29.

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

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.