C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Boosts Stake in Tesla, Inc. $TSLA

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 34.7% during the second quarter, HoldingsChannel.com reports. The fund owned 4,486 shares of the electric vehicle producer’s stock after buying an additional 1,155 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Tesla were worth $1,425,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TSLA. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla during the first quarter worth approximately $27,000. Chelsea Counsel Co. increased its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the period. Centennial Bank AR increased its position in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares during the period. LGT Financial Advisors LLC purchased a new position in shares of Tesla during the second quarter worth approximately $29,000. Finally, Compass Wealth Management LLC increased its position in shares of Tesla by 360.0% during the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after acquiring an additional 90 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the firm’s 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 owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. Corporate insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $456.56 on Friday. The company has a market cap of $1.52 trillion, a price-to-earnings ratio of 304.37, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $410.52 and a two-hundred day moving average of $348.12.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $0.72 earnings per share. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research report on Thursday. Stifel Nicolaus set a $483.00 price objective on shares of Tesla and gave the company a “buy” rating in a research note on Wednesday, October 8th. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Bank of America increased their price objective on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Canaccord Genuity Group dropped their price objective on shares of Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $390.27.

Tesla 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.