Ritholtz Wealth Management Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Ritholtz Wealth Management lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 16.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,975 shares of the electric vehicle producer’s stock after buying an additional 5,063 shares during the quarter. Ritholtz Wealth Management’s holdings in Tesla were worth $7,119,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Apexium Financial LP raised its holdings in shares of Tesla by 736.8% in the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after acquiring an additional 21,972 shares in the last quarter. Forum Financial Management LP increased its stake in Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after acquiring an additional 3,582 shares during the last quarter. Catalyst Financial Partners LLC increased its position in shares of Tesla by 9.4% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after purchasing an additional 598 shares during the last quarter. Atalanta Sosnoff Capital LLC boosted its stake in Tesla by 3.7% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock worth $45,546,000 after buying an additional 6,575 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Tesla by 7.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after purchasing an additional 1,943 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Friday, July 5th. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday, July 24th. Royal Bank of Canada reduced their price target on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. HSBC increased their price objective on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Monday, July 29th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $204.21.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly 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 the SEC website. In related news, 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock traded up $7.83 on Friday, reaching $214.11. The stock had a trading volume of 63,370,608 shares, compared to its average volume of 73,554,480. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The stock has a market cap of $682.84 billion, a P/E ratio of 54.62, a price-to-earnings-growth ratio of 5.55 and a beta of 2.31. The company has a 50 day simple moving average of $222.00 and a 200 day simple moving average of $192.88.

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 the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. Equities research analysts expect that Tesla, Inc. will post 1.79 EPS for the current year.

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.