Koss Olinger Consulting LLC Invests $46.11 Million in Tesla, Inc. (NASDAQ:TSLA)

Koss Olinger Consulting LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 233,040 shares of the electric vehicle producer’s stock, valued at approximately $46,114,000. Tesla accounts for approximately 4.3% of Koss Olinger Consulting LLC’s investment portfolio, making the stock its 5th biggest position.

A number of other large investors also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. grew its holdings in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. Norges Bank bought a new position in shares of Tesla during the 4th quarter valued at approximately $7,844,757,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC increased its position in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. Finally, ARK Investment Management LLC raised its stake in Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after purchasing an additional 135,966 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. TD Cowen increased their price target on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Stifel Nicolaus initiated coverage on Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Royal Bank of Canada cut their target price on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Finally, Canaccord Genuity Group lifted their price objective on shares of Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. 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 has an average rating of “Hold” and a consensus target price of $204.21.

Tesla Trading Down 8.4 %

Tesla stock opened at $210.73 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market cap of $673.21 billion, a PE ratio of 53.76, a price-to-earnings-growth ratio of 5.80 and a beta of 2.29. The stock has a 50-day moving average of $224.47 and a two-hundred day moving average of $193.60. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s 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 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 through this hyperlink. 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.