Northstar Advisory Group LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Northstar Advisory Group LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 142.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,280 shares of the electric vehicle producer’s stock after buying an additional 6,032 shares during the quarter. Tesla makes up about 1.2% of Northstar Advisory Group LLC’s investment portfolio, making the stock its 25th largest holding. Northstar Advisory Group LLC’s holdings in Tesla were worth $2,034,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Tesla in the 4th quarter valued at approximately $7,844,757,000. Vanguard Group Inc. grew its position in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Tesla by 2,101.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after acquiring an additional 1,402,443 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its stake in Tesla by 60.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock worth $501,654,000 after acquiring an additional 1,072,366 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 0.2 %

Tesla stock traded up $0.53 during trading hours on Tuesday, hitting $214.64. The company had a trading volume of 42,399,133 shares, compared to its average volume of 97,209,750. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market cap of $685.70 billion, a P/E ratio of 55.20, a P/E/G ratio of 5.55 and a beta of 2.29. The company has a 50-day moving average price of $222.63 and a two-hundred day moving average price of $193.01. 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 firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on TSLA shares. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Canaccord Genuity Group boosted their price objective on shares of Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Morgan Stanley restated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research note on Monday, July 29th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Finally, KGI Securities restated a “neutral” rating and set a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $204.21.

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.