MJP Associates Inc. ADV Has $899,000 Position in Tesla, Inc. (NASDAQ:TSLA)

MJP Associates Inc. ADV boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 15.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,542 shares of the electric vehicle producer’s stock after acquiring an additional 600 shares during the period. MJP Associates Inc. ADV’s holdings in Tesla were worth $899,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSLA. Lam Group Inc. bought a new position in shares of Tesla during the 4th quarter worth approximately $25,000. Bank & Trust Co bought a new position in shares of Tesla in the 2nd quarter worth $25,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla in the 4th quarter worth $37,000. Guardian Wealth Management Inc. bought a new position in shares of Tesla in the 4th quarter worth $47,000. Finally, Kathleen S. Wright Associates Inc. lifted its holdings in shares of Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock traded up $1.16 during mid-day trading on Friday, hitting $200.00. 58,648,274 shares of the stock were exchanged, compared to its average volume of 100,019,031. The stock’s fifty day simple moving average is $212.04 and its two-hundred day simple moving average is $190.28. The stock has a market capitalization of $637.84 billion, a price-to-earnings ratio of 51.02, a P/E/G ratio of 5.18 and a beta of 2.31. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the business earned $0.78 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts forecast that Tesla, Inc. will post 1.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TSLA. 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 report on Thursday. Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a research report on Wednesday, July 24th. Guggenheim reissued a “sell” rating and issued a $134.00 price target on shares of Tesla in a research report on Tuesday, July 23rd. Finally, Mizuho increased 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. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average 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.