HBK Sorce Advisory LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

HBK Sorce Advisory LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 28.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,658 shares of the electric vehicle producer’s stock after buying an additional 1,466 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Tesla were worth $4,525,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Milestone Resources Group Ltd boosted its position in Tesla by 56.0% during the second quarter. Milestone Resources Group Ltd now owns 39 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 14 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in shares of Tesla by 0.7% during the second quarter. Harbor Investment Advisory LLC now owns 2,234 shares of the electric vehicle producer’s stock worth $1,518,000 after purchasing an additional 15 shares during the last quarter. Anfield Capital Management LLC grew its position in shares of Tesla by 3.3% in the second quarter. Anfield Capital Management LLC now owns 473 shares of the electric vehicle producer’s stock valued at $321,000 after purchasing an additional 15 shares during the period. Annapolis Financial Services LLC increased its stake in Tesla by 2.2% in the second quarter. Annapolis Financial Services LLC now owns 705 shares of the electric vehicle producer’s stock valued at $479,000 after purchasing an additional 15 shares during the last quarter. Finally, Hartline Investment Corp lifted its position in Tesla by 2.2% during the second quarter. Hartline Investment Corp now owns 707 shares of the electric vehicle producer’s stock worth $481,000 after buying an additional 15 shares during the period. 40.28% of the stock is owned by institutional investors.

Shares of NASDAQ:TSLA traded up $18.81 during midday trading on Monday, reaching $793.20. The company had a trading volume of 742,033 shares, compared to its average volume of 27,845,930. The stock has a market capitalization of $785.28 billion, a P/E ratio of 402.52, a PEG ratio of 6.20 and a beta of 1.95. The stock’s fifty day moving average price is $710.50 and its 200-day moving average price is $674.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.22. Tesla, Inc. has a one year low of $379.11 and a one year high of $900.40.

Tesla (NASDAQ:TSLA) last released its earnings results on Sunday, July 25th. The electric vehicle producer reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.93. Tesla had a net margin of 5.21% and a return on equity of 9.75%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.39 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 3.39 earnings per share for the current year.

Several research analysts have recently weighed in on TSLA shares. Tudor Pickering initiated coverage on shares of Tesla in a report on Thursday. They set a “sell” rating and a $537.00 price objective on the stock. Wells Fargo & Company increased their price target on shares of Tesla from $590.00 to $660.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 27th. TheStreet raised Tesla from a “c+” rating to a “b” rating in a research report on Monday, August 16th. Mizuho raised their price objective on Tesla from $820.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, July 27th. Finally, Sanford C. Bernstein boosted their target price on Tesla from $180.00 to $300.00 and gave the stock an “underperform” rating in a report on Tuesday, August 17th. Nine analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $601.22.

In related news, CAO Vaibhav Taneja sold 4,459 shares of the firm’s stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $661.59, for a total value of $2,950,029.81. Following the sale, the chief accounting officer now owns 19,721 shares of the company’s stock, valued at approximately $13,047,216.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 896 shares of the company’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $752.90, for a total value of $674,598.40. Following the transaction, the senior vice president now owns 18,420 shares of the company’s stock, valued at $13,868,418. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,152 shares of company stock valued at $63,920,737. 25.00% of the stock is owned by corporate insiders.

Tesla Company Profile

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.

Read More: Net Asset Value

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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