Allen Mooney & Barnes Investment Advisors LLC Has $936,000 Stock Position in Tesla, Inc. $TSLA

Allen Mooney & Barnes Investment Advisors LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,945 shares of the electric vehicle producer’s stock after buying an additional 294 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Tesla were worth $936,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Means Investment CO. Inc. boosted its holdings in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. lifted its holdings in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after acquiring an additional 670 shares during the period. Siren L.L.C. bought a new stake in shares of Tesla during the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC lifted its holdings in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after acquiring an additional 826 shares during the period. Finally, Keystone Global Partners LLC bought a new stake in shares of Tesla during the 1st quarter worth approximately $594,000. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,606 shares of company stock worth $51,999,662 over the last three months. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of Tesla in a report on Friday, September 5th. China Renaissance reaffirmed a “hold” rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. HSBC reaffirmed a “reduce” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Wedbush reiterated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Monday, August 4th. Finally, Canaccord Genuity Group upped their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $303.00.

Tesla Trading Up 7.4%

Shares of NASDAQ TSLA opened at $395.94 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm has a 50 day moving average price of $328.89 and a two-hundred day moving average price of $303.72. The stock has a market cap of $1.28 trillion, a P/E ratio of 228.87, a price-to-earnings-growth ratio of 13.81 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the company earned $0.52 earnings per share. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 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.