Altman Advisors Inc. Buys 69 Shares of Tesla, Inc. (NASDAQ:TSLA)

Altman Advisors Inc. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,711 shares of the electric vehicle producer’s stock after acquiring an additional 69 shares during the quarter. Tesla makes up about 1.2% of Altman Advisors Inc.’s portfolio, making the stock its 25th largest position. Altman Advisors Inc.’s holdings in Tesla were worth $2,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank & Trust Co bought a new stake in Tesla in the 2nd quarter valued at about $25,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla in the fourth quarter valued at approximately $37,000. Kessler Investment Group LLC grew its stake in 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 acquiring an additional 51 shares in the last quarter. Aspect Partners LLC lifted its stake 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 purchasing an additional 114 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Tesla in the 2nd quarter valued at $42,000. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, June 10th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 target price on shares of Tesla in a report on Monday, July 1st. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 price target on shares of Tesla in a research report on Tuesday. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $209.03.

Tesla Price Performance

NASDAQ:TSLA opened at $228.13 on Thursday. The stock’s fifty day moving average is $224.13 and its two-hundred day moving average is $194.20. The company has a market capitalization of $728.79 billion, a P/E ratio of 58.20, a P/E/G ratio of 5.57 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $278.98. 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 results 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). The business had revenue of $25.50 billion for 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 firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. Equities analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s 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 completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Tesla Company Profile

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.