SRS Capital Advisors Inc. Acquires 925 Shares of Tesla, Inc. (NASDAQ:TSLA)

SRS Capital Advisors Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 17.8% in the 2nd quarter, Holdings Channel reports. The fund owned 6,114 shares of the electric vehicle producer’s stock after purchasing an additional 925 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Tesla were worth $1,210,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Integris Wealth Management LLC grew its holdings in shares of Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after buying an additional 42 shares in the last quarter. Echo Wealth Management LLC grew its holdings in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after buying an additional 44 shares in the last quarter. WASHINGTON TRUST Co grew its holdings in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares in the last quarter. Bellevue Asset Management LLC grew its holdings in shares of Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares in the last quarter. Finally, Cypress Capital Group grew its holdings in shares of Tesla by 1.7% during the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after buying an additional 47 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 25.10% of the company’s stock.

Tesla Price Performance

Tesla stock traded down $19.44 during mid-day trading on Friday, reaching $210.73. 111,432,758 shares of the company were exchanged, compared to its average volume of 68,186,248. The company has a fifty day simple moving average of $224.47 and a 200-day simple moving average of $193.60. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm has a market cap of $673.21 billion, a PE ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the business earned $0.78 EPS. Tesla’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TSLA shares. Roth Mkm reiterated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Citigroup decreased their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. KGI Securities restated a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and raised their price target for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Finally, Morgan Stanley restated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research note on Thursday. Nine analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target 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.