Fairfield Financial Advisors LTD Purchases New Shares in Tesla, Inc. (NASDAQ:TSLA)

Fairfield Financial Advisors LTD acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,114 shares of the electric vehicle producer’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank & Trust Co acquired a new stake in Tesla in the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at approximately $26,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla in the fourth quarter valued at approximately $37,000. Kessler Investment Group LLC grew its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 51 shares in the last quarter. Finally, Aspect Partners LLC increased its stake in Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $230.29 on Monday. The company has a market cap of $734.44 billion, a P/E ratio of 58.75, a PEG ratio of 6.08 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. The business has a 50-day moving average price of $223.37 and a two-hundred day moving average price of $194.57. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSLA. Canaccord Genuity Group reissued a “buy” rating and set a $254.00 target price on shares of Tesla in a report on Friday. Truist Financial reissued a “hold” rating and issued a $215.00 target price on shares of Tesla in a report on Wednesday, August 14th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Barclays lowered their price objective 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. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $209.60.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

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.