Patron Partners LLC Acquires 301 Shares of Tesla, Inc. (NASDAQ:TSLA)

Patron Partners LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,035 shares of the electric vehicle producer’s stock after purchasing an additional 301 shares during the period. Patron Partners LLC’s holdings in Tesla were worth $601,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bank & Trust Co bought a new position in Tesla in the 2nd quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the fourth quarter valued at $37,000. Kessler Investment Group LLC boosted its position in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the last quarter. Aspect Partners LLC increased its holdings in Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after buying an additional 114 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Tesla in the 2nd quarter worth about $42,000. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 8.4 %

Shares of TSLA stock traded down $19.44 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. The company’s 50 day moving average price is $224.47 and its 200-day moving average price is $193.60. Tesla, Inc. has a 1 year low of $138.80 and a 1 year 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 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.

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

Analysts Set New Price Targets

A number of research firms recently commented on TSLA. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Argus reiterated a “buy” rating and set a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Nine analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $204.21.

Insider Transactions at Tesla

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

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.