Financial Connections Group Inc. Has $441,000 Stock Holdings in Tesla, Inc. $TSLA

Financial Connections Group Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 69.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,390 shares of the electric vehicle producer’s stock after acquiring an additional 572 shares during the quarter. Financial Connections Group Inc.’s holdings in Tesla were worth $441,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the period. Bison Wealth LLC raised its holdings in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares during the period. GAMMA Investing LLC raised its holdings in shares of Tesla by 6.0% during the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock worth $9,812,000 after acquiring an additional 2,153 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of Tesla by 346.3% during the first quarter. Farmers & Merchants Investments Inc. now owns 14,237 shares of the electric vehicle producer’s stock worth $3,690,000 after acquiring an additional 11,047 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, 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 value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $7,275,000.00. Following the completion of the sale, the senior vice president 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 202,606 shares of company stock worth $75,588,902 over the last 90 days. Company insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent research reports. Wedbush lifted their price target on Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. UBS Group set a $247.00 target price on Tesla in a research report on Monday, October 6th. TD Cowen lifted their price objective on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $355.00 price objective on shares of Tesla in a research report on Friday, October 3rd. Finally, Canaccord Genuity Group boosted their price objective on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $354.67.

Tesla Price Performance

Shares of TSLA opened at $413.49 on Monday. The company has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a PEG ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company’s fifty day simple moving average is $375.97 and its 200 day simple moving average is $328.28. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released 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). The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.