Avestar Capital LLC grew its stake in shares of Tesla Inc (NASDAQ:TSLA) by 64.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 785 shares of the electric vehicle producer’s stock after acquiring an additional 308 shares during the period. Avestar Capital LLC’s holdings in Tesla were worth $267,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Northwest Wealth Management LLC purchased a new stake in shares of Tesla during the second quarter worth $103,000. Macroview Investment Management LLC purchased a new stake in shares of Tesla during the first quarter worth $106,000. Jacobi Capital Management LLC lifted its position in shares of Tesla by 154.4% during the first quarter. Jacobi Capital Management LLC now owns 430 shares of the electric vehicle producer’s stock worth $109,000 after acquiring an additional 261 shares in the last quarter. Institutional & Family Asset Management LLC purchased a new stake in shares of Tesla during the first quarter worth $114,000. Finally, Stelac Advisory Services LLC purchased a new stake in shares of Tesla during the second quarter worth $114,000. Hedge funds and other institutional investors own 56.26% of the company’s stock.

TSLA opened at $303.15 on Friday. The firm has a market capitalization of $54.47 billion, a P/E ratio of -26.04 and a beta of 0.65. The company has a current ratio of 0.73, a quick ratio of 0.37 and a debt-to-equity ratio of 2.01. Tesla Inc has a 52 week low of $244.59 and a 52 week high of $389.61.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.61) by $0.55. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Tesla had a negative return on equity of 50.84% and a negative net margin of 19.89%. The firm’s revenue was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.33) earnings per share. sell-side analysts anticipate that Tesla Inc will post -10.77 earnings per share for the current fiscal year.

In related news, VP John Douglas Field sold 3,000 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $359.27, for a total value of $1,077,810.00. Following the transaction, the vice president now owns 20,964 shares of the company’s stock, valued at $7,531,736.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 1,875 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $358.26, for a total transaction of $671,737.50. Following the sale, the director now owns 150,208 shares of the company’s stock, valued at $53,813,518.08. The disclosure for this sale can be found here. 22.80% of the stock is owned by corporate insiders.

Several research firms have issued reports on TSLA. Canaccord Genuity set a $316.00 target price on Tesla and gave the stock a “hold” rating in a research report on Tuesday. Royal Bank of Canada set a $315.00 price target on shares of Tesla and gave the stock a “neutral” rating in a report on Monday. Morgan Stanley set a $291.00 price target on shares of Tesla and gave the stock a “neutral” rating in a report on Monday. Jefferies Financial Group set a $360.00 price target on shares of Tesla and gave the stock a “neutral” rating in a report on Monday. Finally, Barclays set a $210.00 price target on shares of Tesla and gave the stock a “sell” rating in a report on Monday. Twelve analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. Tesla currently has a consensus rating of “Hold” and an average target price of $310.21.

Tesla Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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