Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Patron Partners LLC

Patron Partners LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 11.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,035 shares of the electric vehicle producer’s stock after buying an additional 301 shares during the period. Patron Partners LLC’s holdings in Tesla were worth $601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sivia Capital Partners LLC boosted its stake in shares of Tesla by 10.0% during the second quarter. Sivia Capital Partners LLC now owns 10,360 shares of the electric vehicle producer’s stock valued at $2,050,000 after acquiring an additional 939 shares during the last quarter. Savant Capital LLC increased its stake in shares of Tesla by 28.7% during the 2nd quarter. Savant Capital LLC now owns 31,589 shares of the electric vehicle producer’s stock valued at $6,251,000 after acquiring an additional 7,045 shares during the last quarter. Flynn Zito Capital Management LLC raised its stake in Tesla by 4.9% during the second quarter. Flynn Zito Capital Management LLC now owns 3,235 shares of the electric vehicle producer’s stock worth $640,000 after purchasing an additional 152 shares during the period. North Star Asset Management Inc. boosted its holdings in Tesla by 8.2% in the second quarter. North Star Asset Management Inc. now owns 6,040 shares of the electric vehicle producer’s stock valued at $1,195,000 after acquiring an additional 458 shares during the last quarter. Finally, New York Life Investment Management LLC increased its stake in Tesla by 1.1% during the second quarter. New York Life Investment Management LLC now owns 424,591 shares of the electric vehicle producer’s stock worth $84,018,000 after acquiring an additional 4,655 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 8.4 %

NASDAQ TSLA traded down $19.44 during trading on Friday, reaching $210.73. The company’s stock had a trading volume of 111,432,758 shares, compared to its average volume of 68,186,248. The business has a 50-day moving average price of $224.47 and a 200-day moving average price of $193.60. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. The stock has a market capitalization of $673.21 billion, a PE ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Truist Financial reissued a “hold” rating and set a $215.00 target price on shares of Tesla in a research report on Wednesday, August 14th. Barclays decreased their price target on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. KGI Securities restated a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Finally, TD Cowen increased their price objective on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Nine analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $204.21.

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.