REAP Financial Group LLC Increases Stake in Tesla, Inc. $TSLA

REAP Financial Group LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 52.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 862 shares of the electric vehicle producer’s stock after purchasing an additional 297 shares during the quarter. REAP Financial Group LLC’s holdings in Tesla were worth $274,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after buying an additional 849,091 shares during the last quarter. Amundi raised its position in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. raised its position in Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock worth $3,832,047,000 after buying an additional 2,211,300 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last 90 days. 19.90% of the stock is owned by insiders.

Tesla Trading Up 1.3%

Shares of TSLA opened at $438.69 on Thursday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average is $371.20 and its two-hundred day moving average is $325.56. The stock has a market cap of $1.46 trillion, a PE ratio of 253.58, a price-to-earnings-growth ratio of 15.92 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the firm earned $0.52 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tesla in a research note on Wednesday. Wedbush raised their price objective on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Dbs Bank raised their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Glj Research reaffirmed a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Benchmark reaffirmed a “buy” rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $345.70.

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.