JT Stratford LLC Buys 6,817 Shares of Tesla, Inc. $TSLA

JT Stratford LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 44.6% during the second quarter, HoldingsChannel.com reports. The fund owned 22,107 shares of the electric vehicle producer’s stock after buying an additional 6,817 shares during the quarter. Tesla makes up approximately 1.1% of JT Stratford LLC’s investment portfolio, making the stock its 19th biggest holding. JT Stratford LLC’s holdings in Tesla were worth $7,023,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of TSLA. McCollum Christoferson Group LLC increased its holdings in Tesla by 0.7% during the 2nd quarter. McCollum Christoferson Group LLC now owns 23,187 shares of the electric vehicle producer’s stock worth $7,366,000 after purchasing an additional 156 shares during the period. IAG Wealth Partners LLC grew its position in shares of Tesla by 32.2% during the 2nd quarter. IAG Wealth Partners LLC now owns 513 shares of the electric vehicle producer’s stock worth $163,000 after buying an additional 125 shares in the last quarter. River Wealth Advisors LLC increased its stake in shares of Tesla by 74.6% during the second quarter. River Wealth Advisors LLC now owns 1,365 shares of the electric vehicle producer’s stock valued at $434,000 after buying an additional 583 shares during the period. WCG Wealth Advisors LLC increased its stake in shares of Tesla by 9.3% during the second quarter. WCG Wealth Advisors LLC now owns 17,648 shares of the electric vehicle producer’s stock valued at $5,606,000 after buying an additional 1,504 shares during the period. Finally, Beacon Pointe Advisors LLC raised its holdings in shares of Tesla by 13.8% in the second quarter. Beacon Pointe Advisors LLC now owns 70,430 shares of the electric vehicle producer’s stock valued at $22,373,000 after acquiring an additional 8,529 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction 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 sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a 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 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 of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 82,606 shares of company stock valued at $33,554,102. Insiders own 19.90% of the company’s stock.

Tesla Stock Down 0.2%

Shares of TSLA stock opened at $429.24 on Wednesday. The stock’s fifty day moving average price is $433.94 and its 200 day moving average price is $370.52. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 286.16, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share 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 business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter last year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on TSLA. President Capital increased their target price on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Evercore ISI boosted their price objective on shares of Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group lowered their target price on Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. China Renaissance lifted their price target on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. upped their price objective 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 nine have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $398.92.

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.