Tesla, Inc. $TSLA Shares Bought by Newbridge Financial Services Group Inc.

by · The Cerbat Gem

Newbridge Financial Services Group Inc. increased its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 20.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 31,426 shares of the electric vehicle producer’s stock after buying an additional 5,389 shares during the period. Tesla comprises approximately 1.6% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 12th biggest position. Newbridge Financial Services Group Inc.’s holdings in Tesla were worth $9,983,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Chapman Financial Group LLC acquired a new stake in shares of Tesla during the 2nd quarter worth approximately $26,000. Chelsea Counsel Co. increased its position in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the period. LGT Financial Advisors LLC bought a new stake in Tesla in the second quarter valued at $29,000. CoreFirst Bank & Trust acquired a new position in shares of Tesla during the second quarter valued at $30,000. Finally, ESL Trust Services LLC grew its position in shares of Tesla by 1,900.0% during the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. President Capital boosted their target price on shares of Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. increased their price objective on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Melius started coverage on shares of Tesla in a research note on Monday, October 13th. They set a “buy” rating and a $520.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $399.33.

View Our Latest Analysis on TSLA

Tesla Stock Performance

TSLA opened at $458.96 on Monday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.53 trillion, a PE ratio of 305.97, a P/E/G ratio of 15.50 and a beta of 1.87. The business has a fifty day simple moving average of $435.52 and a 200-day simple moving average of $376.42. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA – Get Free Report) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. The trade was a 3.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.90% of the company’s stock.

Tesla Profile

(Free Report)

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.

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