FIDELIS iM LLC Makes New $2.09 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

FIDELIS iM LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,561 shares of the electric vehicle producer’s stock, valued at approximately $2,089,000. Tesla comprises approximately 1.0% of FIDELIS iM LLC’s investment portfolio, making the stock its 13th largest holding.

A number of other institutional investors have also modified their holdings of the stock. Bank & Trust Co purchased a new stake in shares of Tesla in the second quarter valued at approximately $25,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the 2nd quarter valued at approximately $26,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla in the 4th quarter valued at $37,000. Finally, Guardian Wealth Management Inc. purchased a new position in Tesla during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.4 %

Shares of NASDAQ:TSLA opened at $258.02 on Wednesday. The firm has a market cap of $824.28 billion, a P/E ratio of 65.82, a P/E/G ratio of 7.08 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. 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 business has a fifty day simple moving average of $222.33 and a 200 day simple moving average of $200.24.

Tesla (NASDAQ:TSLA) last announced 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 net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the business posted $0.78 EPS. The company’s revenue was up 2.3% on a year-over-year basis. Analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’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 transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 over the last three months. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TSLA shares. Stifel Nicolaus started coverage on Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. The Goldman Sachs Group lowered their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Canaccord Genuity Group restated a “buy” rating and issued a $254.00 price objective on shares of Tesla in a research report on Friday, September 13th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, September 5th. Nine research 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 MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price 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.