Fiduciary Financial Group LLC Buys Shares of 2,742 Tesla, Inc. (NASDAQ:TSLA)

Fiduciary Financial Group LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,742 shares of the electric vehicle producer’s stock, valued at approximately $543,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. International Assets Investment Management LLC grew its holdings in Tesla by 5.0% during the 4th quarter. International Assets Investment Management LLC now owns 24,963 shares of the electric vehicle producer’s stock worth $6,203,000 after acquiring an additional 1,189 shares in the last quarter. Carnegie Capital Asset Management LLC increased its holdings in Tesla by 5.9% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 7,487 shares of the electric vehicle producer’s stock valued at $1,860,000 after buying an additional 416 shares during the period. Cornercap Investment Counsel Inc. raised its stake in Tesla by 5.9% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 1,554 shares of the electric vehicle producer’s stock worth $386,000 after buying an additional 87 shares in the last quarter. Cullen Investment Group LTD. purchased a new stake in Tesla during the fourth quarter worth $852,000. Finally, Dakota Wealth Management boosted its position in Tesla by 6.9% during the 4th quarter. Dakota Wealth Management now owns 13,079 shares of the electric vehicle producer’s stock valued at $3,250,000 after acquiring an additional 846 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research note on Wednesday, July 24th. Morgan Stanley restated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Monday, July 29th. Glj Research boosted their price objective on shares of Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Evercore ISI lowered their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday, April 29th. Finally, HSBC upped their price target on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $204.21.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s 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 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 this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 in the company, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $1.98 during trading on Friday, hitting $216.12. 88,620,586 shares of the stock traded hands, compared to its average volume of 90,901,848. The company has a fifty day moving average price of $214.37 and a two-hundred day moving average price of $190.80. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98. The company has a market cap of $690.43 billion, a price-to-earnings ratio of 55.13, a P/E/G ratio of 5.22 and a beta of 2.31. The company has a quick ratio of 1.40, a current ratio of 1.91 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 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 firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the company posted $0.78 EPS. The company’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts predict that Tesla, Inc. will post 1.79 EPS for the current 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.