Talon Private Wealth LLC Purchases 39 Shares of Tesla, Inc. $TSLA

Talon Private Wealth LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,844 shares of the electric vehicle producer’s stock after buying an additional 39 shares during the quarter. Talon Private Wealth LLC’s holdings in Tesla were worth $737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC lifted its stake in shares of Tesla by 12.8% during the 1st quarter. Rise Advisors LLC now owns 2,930 shares of the electric vehicle producer’s stock worth $759,000 after purchasing an additional 332 shares during the last quarter. Pacific Center for Financial Services raised its holdings in Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock worth $39,000 after purchasing an additional 46 shares in the last quarter. Paradoxiom Capital L.P. purchased a new stake in shares of Tesla during the first quarter valued at about $3,744,000. Pinnacle Family Advisors LLC lifted its position in shares of Tesla by 22.4% during the first quarter. Pinnacle Family Advisors LLC now owns 7,938 shares of the electric vehicle producer’s stock valued at $2,057,000 after buying an additional 1,455 shares during the last quarter. Finally, Plancorp LLC boosted its holdings in shares of Tesla by 1.2% in the 1st quarter. Plancorp LLC now owns 9,922 shares of the electric vehicle producer’s stock valued at $2,571,000 after buying an additional 117 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TSLA. Mizuho lowered their target price on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research note on Tuesday, July 8th. China Renaissance reissued a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Bank of America increased their price target on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Finally, Canaccord Genuity Group boosted their price target on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $303.31.

Tesla Stock Up 3.6%

Shares of TSLA stock opened at $350.84 on Friday. Tesla, Inc. has a fifty-two week low of $210.51 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.13 trillion, a PE ratio of 202.80, a P/E/G ratio of 12.24 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock’s 50-day simple moving average is $324.00 and its 200-day simple moving average is $302.25.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,564 shares of company stock valued at $49,396,070 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

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.