Phillips Financial Management LLC Has $1.23 Million Holdings in Tesla, Inc. $TSLA

Phillips Financial Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.3% in the second quarter, Holdings Channel.com reports. The firm owned 3,869 shares of the electric vehicle producer’s stock after purchasing an additional 123 shares during the quarter. Phillips Financial Management LLC’s holdings in Tesla were worth $1,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Brighton Jones LLC boosted its stake in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Bison Wealth LLC boosted its stake in shares of Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after buying an additional 3,558 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Tesla by 6.0% during the 1st quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock worth $9,812,000 after buying an additional 2,153 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Tesla during the 1st quarter worth about $464,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research note on Monday, October 13th. Dbs Bank increased their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Mizuho increased their price objective on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. Bank of America increased their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $363.54.

Tesla Stock Down 1.1%

Tesla stock opened at $442.60 on Wednesday. The stock has a market cap of $1.47 trillion, a P/E ratio of 255.84, a P/E/G ratio of 16.08 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company’s 50-day moving average price is $391.74 and its two-hundred day moving average price is $336.26.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last three months. 19.90% of the stock is currently owned by company insiders.

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.