Montag A & Associates Inc. Acquires 1,071 Shares of Tesla, Inc. (NASDAQ:TSLA)

Montag A & Associates Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 33.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,256 shares of the electric vehicle producer’s stock after acquiring an additional 1,071 shares during the period. Montag A & Associates Inc.’s holdings in Tesla were worth $842,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Bank & Trust Co purchased a new position in shares of Tesla in the 2nd quarter worth about $25,000. OLD Point Trust & Financial Services N A bought a new stake in Tesla during the 4th quarter valued at about $37,000. Kessler Investment Group LLC lifted its stake in shares of Tesla by 35.9% in 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 in the last quarter. Aspect Partners LLC grew its holdings in shares of Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Tesla during the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of analysts have commented on TSLA shares. Truist Financial restated a “hold” rating and issued a $215.00 price target on shares of Tesla in a research note on Wednesday, August 14th. Roth Mkm reissued a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research report on Wednesday, July 24th. HSBC upped their target price on shares of Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Finally, The Goldman Sachs Group lowered their price objective on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $204.21.

Tesla Stock Performance

NASDAQ:TSLA opened at $214.11 on Monday. The stock has a 50-day moving average price of $222.00 and a 200 day moving average price of $192.91. 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, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98. The stock has a market capitalization of $682.84 billion, a P/E ratio of 54.62, a P/E/G ratio of 5.55 and a beta of 2.31.

Tesla (NASDAQ:TSLA) 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 net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

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.