Rathbones Group PLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Rathbones Group PLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,688 shares of the electric vehicle producer's stock after purchasing an additional 6,629 shares during the period. Rathbones Group PLC's holdings in Tesla were worth $23,090,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bank & Trust Co purchased a new position in shares of Tesla during the second quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla in the 2nd quarter worth $26,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the fourth quarter valued at approximately $37,000. Kessler Investment Group LLC lifted its holdings in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer's stock worth $38,000 after buying an additional 51 shares during the period. Finally, Aspect Partners LLC raised its position in shares of 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 acquiring an additional 114 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $0.48 during midday trading on Friday, hitting $230.29. The stock had a trading volume of 59,362,320 shares, compared to its average volume of 73,655,344. The company has a market capitalization of $734.44 billion, a PE ratio of 58.75, a P/E/G ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The stock has a 50 day moving average price of $223.37 and a two-hundred day moving average price of $194.57. 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 (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to analysts' expectations of $24.38 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The company's revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. New Street Research downgraded shares of Tesla from a "buy" rating to a "neutral" rating and set a $225.00 target price for the company. in a report on Wednesday, July 24th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Wednesday, July 24th. Cantor Fitzgerald restated a "neutral" rating and set a $245.00 target price on shares of Tesla in a research note on Monday, September 9th. Stifel Nicolaus began coverage on Tesla in a research note on Tuesday, June 25th. They issued a "buy" rating and a $265.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $295.00 price target on shares of Tesla in a research note on Tuesday, September 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of "Hold" and an average price target of $209.60.

Insider Activity

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company's stock in a transaction dated Thursday, July 25th. The shares were 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 in the company, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was 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 directly owns 67,491 shares of the company's stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Company insiders own 25.10% of the company's stock.

Tesla 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.