Altiora Financial Group LLC Purchases 2,052 Shares of Tesla, Inc. $TSLA

Altiora Financial Group LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 68.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,060 shares of the electric vehicle producer’s stock after purchasing an additional 2,052 shares during the quarter. Altiora Financial Group LLC’s holdings in Tesla were worth $1,607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Chelsea Counsel Co. lifted its position in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Tesla in the second quarter worth $29,000. Evergreen Private Wealth LLC lifted its holdings in shares of Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Glynn Capital Management LLC purchased a new stake in shares of Tesla during the second quarter valued at $35,000. Finally, Pacific Center for Financial Services increased its holdings in Tesla by 44.7% in the 1st quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock worth $39,000 after buying an additional 46 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSLA. Benchmark reaffirmed a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. JPMorgan Chase & Co. increased their price objective on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. CICC Research increased their price target on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Finally, Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $393.61.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was 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 of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Performance

TSLA opened at $404.35 on Friday. The company has a 50 day simple moving average of $429.67 and a two-hundred day simple moving average of $360.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The firm has a market cap of $1.34 trillion, a P/E ratio of 269.57, a PEG ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

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