Oldfather Financial Services LLC Invests $243,000 in Tesla, Inc. $TSLA

Oldfather Financial Services LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 764 shares of the electric vehicle producer’s stock, valued at approximately $243,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new position in Tesla in the fourth quarter worth about $346,000. Highview Capital Management LLC DE acquired a new position in Tesla in the fourth quarter valued at approximately $2,367,000. Finally, Bison Wealth LLC grew its holdings in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,606 shares of company stock worth $77,360,462. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Canaccord Genuity Group raised their price target on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Argus reiterated a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Piper Sandler restated an “overweight” rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Baird R W downgraded shares of Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Finally, Stifel Nicolaus set a $440.00 target price on shares of Tesla in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $310.79.

Tesla Stock Down 2.1%

Tesla stock opened at $416.85 on Friday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 240.95, a PEG ratio of 14.86 and a beta of 2.06. The company’s 50-day moving average price is $338.43 and its two-hundred day moving average price is $307.09. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

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

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.