PAX Financial Group LLC Purchases 277 Shares of Tesla, Inc. (NASDAQ:TSLA)

PAX Financial Group LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,276 shares of the electric vehicle producer’s stock after purchasing an additional 277 shares during the period. PAX Financial Group LLC’s holdings in Tesla were worth $576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Lantz Financial LLC purchased a new position in Tesla in the 4th quarter worth $240,000. Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of Tesla by 11.9% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 3,841 shares of the electric vehicle producer’s stock worth $924,000 after buying an additional 410 shares during the period. Cooper Financial Group raised its holdings in Tesla by 31.7% during the 4th quarter. Cooper Financial Group now owns 56,655 shares of the electric vehicle producer’s stock valued at $14,078,000 after buying an additional 13,648 shares during the last quarter. CoreCap Advisors LLC boosted its position in Tesla by 3.9% during the 4th quarter. CoreCap Advisors LLC now owns 24,808 shares of the electric vehicle producer’s stock valued at $6,164,000 after buying an additional 931 shares during the period. Finally, LVW Advisors LLC boosted its holdings in shares of Tesla by 38.4% during the fourth quarter. LVW Advisors LLC now owns 4,200 shares of the electric vehicle producer’s stock worth $1,044,000 after purchasing an additional 1,166 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TSLA shares. Royal Bank of Canada cut their price objective on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and raised their target price for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Glj Research boosted their price target on shares of Tesla from $22.86 to $24.86 and gave the company a “sell” rating in a research report on Tuesday. Barclays raised their price objective on shares of Tesla from $180.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 17th. Finally, Evercore ISI reduced their target price on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $197.46.

Tesla Stock Performance

NASDAQ TSLA traded down $4.99 during trading hours on Tuesday, hitting $246.52. The company’s stock had a trading volume of 87,881,164 shares, compared to its average volume of 100,594,195. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market cap of $786.20 billion, a P/E ratio of 63.42, a price-to-earnings-growth ratio of 5.97 and a beta of 2.31. The company’s 50 day simple moving average is $201.71 and its two-hundred day simple moving average is $190.94. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Tesla, Inc. will post 1.85 EPS for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

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.