Caprock Group LLC Acquires 2,936 Shares of Tesla, Inc. (NASDAQ:TSLA)

Caprock Group LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,122 shares of the electric vehicle producer’s stock after acquiring an additional 2,936 shares during the quarter. Caprock Group LLC’s holdings in Tesla were worth $6,356,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TSLA. Bank & Trust Co bought a new position in Tesla in the 2nd quarter worth approximately $25,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla during the fourth quarter worth $37,000. Guardian Wealth Management Inc. acquired a new position in shares of Tesla during the fourth quarter valued at $47,000. Kessler Investment Group LLC boosted its holdings in Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares during the last quarter. Finally, A.P. Gilfoyle & Co. L.P. acquired a new stake in Tesla in the fourth quarter worth about $50,000. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred 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 transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 25.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TSLA shares. Stifel Nicolaus initiated coverage on shares of Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price on the stock. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Friday, July 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Tuesday, September 3rd. Argus restated a “buy” rating and issued a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Finally, Citigroup dropped their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $204.21.

Tesla Stock Performance

Shares of TSLA opened at $210.73 on Friday. The firm has a fifty day simple moving average of $224.47 and a 200 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. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The stock has a market capitalization of $673.21 billion, a price-to-earnings 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. Research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

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.