Callan Capital LLC Buys 1,971 Shares of Tesla, Inc. (NASDAQ:TSLA)

Callan Capital LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 12.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,567 shares of the electric vehicle producer’s stock after purchasing an additional 1,971 shares during the quarter. Callan Capital LLC’s holdings in Tesla were worth $3,476,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TSLA. Vanguard Group Inc. increased its position in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC increased its stake in Tesla by 21,816.0% during the second 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 acquiring an additional 5,875,484 shares during the period. ARK Investment Management LLC raised its holdings 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 acquiring an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of 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 valued at $981,443,000 after purchasing an additional 412,872 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the 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 owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 transaction, 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 Performance

Shares of NASDAQ TSLA opened at $243.92 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $273.93. The stock has a 50 day moving average of $221.50 and a 200-day moving average of $195.49. 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 company has a market capitalization of $777.91 billion, a P/E ratio of 62.22, a P/E/G ratio of 6.00 and a beta of 2.29.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Monday. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, July 24th. KGI Securities restated a “neutral” rating and set a $236.00 target price on shares of Tesla in a research report on Thursday, July 25th. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research note on Monday, July 1st. Finally, Barclays reduced their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.