IFG Advisory LLC Has $5.55 Million Position in Tesla, Inc. $TSLA

IFG Advisory LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 11.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,480 shares of the electric vehicle producer’s stock after buying an additional 1,804 shares during the quarter. IFG Advisory LLC’s holdings in Tesla were worth $5,553,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Goldman Sachs Group Inc. raised its position in Tesla by 322.1% in 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 buying an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new stake in Tesla in the 1st quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC raised its position in Tesla by 581,880.5% in 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 buying an additional 6,435,598 shares during the last quarter. Amundi raised its position in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Tesla by 1.5% in 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 buying an additional 3,694,524 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TSLA. Barclays reissued a “negative” rating and issued a $350.00 target price (up previously from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Wedbush restated an “outperform” rating and issued a $600.00 price target on shares of Tesla in a research note on Monday, October 20th. President Capital raised their price target on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research note on Wednesday. Dbs Bank raised their price target on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Finally, Canaccord Genuity Group decreased their price target on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $388.51.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was 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 directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $440.10 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The stock has a 50 day moving average of $408.19 and a 200-day moving average of $346.05. The company has a market capitalization of $1.46 trillion, a P/E ratio of 293.40, a P/E/G ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the previous year, the company posted $0.72 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company 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.