Mine & Arao Wealth Creation & Management LLC. Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Mine & Arao Wealth Creation & Management LLC. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.6% in the second quarter, HoldingsChannel.com reports. The fund owned 2,474 shares of the electric vehicle producer’s stock after acquiring an additional 489 shares during the quarter. Mine & Arao Wealth Creation & Management LLC.’s holdings in Tesla were worth $490,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in TSLA. Apexium Financial LP grew its position in Tesla by 736.8% during the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after purchasing an additional 21,972 shares during the period. Forum Financial Management LP lifted its holdings in Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after acquiring an additional 3,582 shares during the period. Atalanta Sosnoff Capital LLC grew its stake in shares of Tesla by 3.7% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock worth $45,546,000 after purchasing an additional 6,575 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after purchasing an additional 1,943 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Tesla during the first quarter worth $1,941,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 25.10% of the stock is owned by insiders.

Tesla Stock Down 8.4 %

NASDAQ:TSLA traded down $19.44 during mid-day trading on Friday, hitting $210.73. The stock had a trading volume of 111,432,758 shares, compared to its average volume of 68,186,248. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $278.98. The stock has a 50-day simple moving average of $224.47 and a two-hundred day simple moving average of $193.60. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market capitalization 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 announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TSLA shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Thursday. Mizuho upped their price target on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research note on Friday, July 5th. KGI Securities reissued a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. Finally, UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and raised 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 given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently 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.