Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 21,816.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,902,416 shares of the electric vehicle producer’s stock after purchasing an additional 5,875,484 shares during the quarter. Tesla comprises 5.0% of Strategic Financial Concepts LLC’s holdings, making the stock its 7th biggest position. Strategic Financial Concepts LLC owned approximately 0.19% of Tesla worth $1,167,970,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norden Group LLC boosted its position in Tesla by 18.9% in the second quarter. Norden Group LLC now owns 12,660 shares of the electric vehicle producer’s stock valued at $2,505,000 after buying an additional 2,015 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Tesla by 17.8% in the 2nd quarter. SRS Capital Advisors Inc. now owns 6,114 shares of the electric vehicle producer’s stock valued at $1,210,000 after acquiring an additional 925 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. increased its stake in shares of Tesla by 24.6% in the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 2,474 shares of the electric vehicle producer’s stock worth $490,000 after acquiring an additional 489 shares during the period. Chicago Capital LLC raised its holdings in shares of Tesla by 2.4% during the second quarter. Chicago Capital LLC now owns 17,063 shares of the electric vehicle producer’s stock worth $3,376,000 after purchasing an additional 399 shares during the last quarter. Finally, EFG Asset Management Americas Corp. lifted its position in Tesla by 36.7% during the second quarter. EFG Asset Management Americas Corp. now owns 27,243 shares of the electric vehicle producer’s stock valued at $5,391,000 after purchasing an additional 7,319 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research note on Tuesday, September 3rd. KGI Securities restated a “neutral” rating and set a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. HSBC upped their price objective on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. William Blair began coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, UBS Group cut Tesla from a “neutral” rating to a “sell” rating and upped their price target for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Nine analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $204.21.

Tesla Price Performance

NASDAQ:TSLA opened at $210.73 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $278.98. The stock’s fifty day moving average is $224.47 and its two-hundred day moving average is $193.60. The company has a market capitalization of $673.21 billion, a P/E ratio of 53.76, a P/E/G ratio of 5.80 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

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

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s 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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. 25.10% of the stock is currently owned by corporate insiders.

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.