Family Legacy Financial Solutions LLC Acquires Shares of 1,524 Tesla, Inc. $TSLA

Family Legacy Financial Solutions LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,524 shares of the electric vehicle producer’s stock, valued at approximately $484,000.

Other institutional investors also recently bought and sold shares of the company. Means Investment CO. Inc. increased its holdings in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares in the last quarter. Siren L.L.C. purchased a new position in shares of Tesla in the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC increased its holdings in shares of Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares in the last quarter. Finally, Keystone Global Partners LLC purchased a new position in shares of Tesla in the 1st quarter valued at about $594,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 2.1%

TSLA opened at $416.85 on Friday. The firm has a 50 day moving average price of $338.43 and a 200 day moving average price of $307.09. The company has a market cap of $1.34 trillion, a PE ratio of 240.95, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,606 shares of company stock valued at $77,360,462. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLA. Benchmark reiterated a “buy” rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Argus reissued a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Wedbush reissued an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research note on Monday. Canaccord Genuity Group increased their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, HSBC restated a “reduce” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $310.79.

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.