Monetta Financial Services Inc. Acquires 1,000 Shares of Tesla, Inc. $TSLA

Monetta Financial Services Inc. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,000 shares of the electric vehicle producer’s stock after purchasing an additional 1,000 shares during the quarter. Tesla accounts for about 1.6% of Monetta Financial Services Inc.’s portfolio, making the stock its 16th largest position. Monetta Financial Services Inc.’s holdings in Tesla were worth $2,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Siren L.L.C. bought a new stake in shares of Tesla during the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC raised its holdings in shares of Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares in the last quarter. Keystone Global Partners LLC bought a new position in shares of Tesla during the first quarter valued at approximately $594,000. Strs Ohio bought a new position in Tesla in the first quarter worth approximately $205,495,000. Finally, AustralianSuper Pty Ltd lifted its holdings in Tesla by 1,823.0% during the second quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock worth $21,704,000 after buying an additional 64,772 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the topic of several analyst reports. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. President Capital boosted their price objective on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Wall Street Zen upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, JPMorgan Chase & Co. increased their price target on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $391.08.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by company insiders.

Tesla Price Performance

NASDAQ:TSLA opened at $430.60 on Thursday. The firm’s fifty day moving average is $427.33 and its two-hundred day moving average is $359.18. The firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 287.07, a PEG ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter last year, the company earned $0.72 EPS. The business’s revenue was up 11.6% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

About Tesla

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.