Foundry Financial Group Inc. Buys New Shares in Tesla, Inc. $TSLA

Foundry Financial Group Inc. bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 671 shares of the electric vehicle producer’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Goldman Sachs Group Inc. increased its stake 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 valued at $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new stake in Tesla during the 1st quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC increased its stake in Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares in the last quarter. Amundi increased its stake in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake 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 valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. China Renaissance restated a “hold” rating and set a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. upped their target price on shares of Tesla from $115.00 to $150.00 in a research note on Friday. HSBC upped their target price on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Finally, UBS Group reiterated a “sell” rating and issued a $215.00 target price on shares of Tesla in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $343.43.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated 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 directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock valued at $77,360,462 over the last three months. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $429.83 on Friday. The company’s 50-day moving average is $364.02 and its 200 day moving average is $321.39. 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 company has a market capitalization of $1.43 trillion, a P/E ratio of 248.46, a price-to-earnings-growth ratio of 15.15 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for 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 revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.