Tesla, Inc. $TSLA Shares Purchased by Searcy Financial Services Inc. ADV

Searcy Financial Services Inc. ADV boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,730 shares of the electric vehicle producer’s stock after purchasing an additional 260 shares during the quarter. Tesla makes up 0.6% of Searcy Financial Services Inc. ADV’s portfolio, making the stock its 15th biggest holding. Searcy Financial Services Inc. ADV’s holdings in Tesla were worth $1,503,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased 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 during the last quarter. Nuveen LLC acquired a new stake in Tesla during the first quarter worth about $3,247,619,000. GAMMA Investing LLC increased its stake in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Amundi increased 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 during the last quarter. Finally, Vanguard Group Inc. increased 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 during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were 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 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 can be found here. Insiders have sold a total of 148,606 shares of company stock worth $51,999,662 in the last three months. 20.70% of the stock is owned by company insiders.

Tesla Stock Up 2.8%

Shares of Tesla stock opened at $421.62 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $333.69 and its 200-day simple moving average is $305.35. The stock has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 243.71, a PEG ratio of 14.30 and a beta of 2.06. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Benchmark reiterated a “buy” rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. William Blair reiterated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Morgan Stanley reiterated an “overweight” rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, September 5th. Finally, HSBC reiterated a “reduce” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $303.00.

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.