Pacer Advisors Inc. Purchases 7,633 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pacer Advisors Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 289,756 shares of the electric vehicle producer’s stock after buying an additional 7,633 shares during the period. Pacer Advisors Inc.’s holdings in Tesla were worth $57,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank & Trust Co bought a new position in shares of Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla in the 2nd quarter worth approximately $26,000. OLD Point Trust & Financial Services N A bought a new position in Tesla during the 4th quarter valued at approximately $37,000. Kessler Investment Group LLC raised its stake in Tesla by 35.9% during 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 during the last quarter. Finally, Aspect Partners LLC boosted its holdings in Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 2.3 %

Shares of TSLA stock opened at $238.25 on Friday. The stock’s 50-day moving average price is $221.30 and its 200-day moving average price is $195.94. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The stock has a market capitalization of $759.83 billion, a price-to-earnings ratio of 60.78, a price-to-earnings-growth 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.

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 the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm 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 earned $0.78 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity at Tesla

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

Analyst Ratings Changes

A number of brokerages recently issued reports on TSLA. Barclays dropped their price target 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. Morgan Stanley reissued an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, September 5th. Glj Research restated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Thursday, September 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Monday, September 16th. Finally, Mizuho upped their price target on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $209.60.

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.