Sunburst Financial Group LLC Purchases 112 Shares of Tesla, Inc. $TSLA

Sunburst Financial Group LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,311 shares of the electric vehicle producer’s stock after purchasing an additional 112 shares during the quarter. Sunburst Financial Group LLC’s holdings in Tesla were worth $417,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after acquiring an additional 849,091 shares in the last quarter. Amundi raised its stake in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Tesla by 17.6% during the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock worth $3,832,047,000 after acquiring an additional 2,211,300 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions 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 shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the 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 transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 in the last quarter. 19.90% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $468.37 on Tuesday. The company has a market cap of $1.56 trillion, a price-to-earnings ratio of 312.25, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $412.95 and a 200-day moving average of $350.47.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TSLA shares. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Evercore ISI upped their price objective on Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Wedbush reissued an “outperform” rating and set a $600.00 target price on shares of Tesla in a research report on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $390.27.

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.