Valmark Advisers Inc. Acquires 1,073 Shares of Tesla, Inc. (NASDAQ:TSLA)

Valmark Advisers Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,746 shares of the electric vehicle producer’s stock after buying an additional 1,073 shares during the period. Valmark Advisers Inc.’s holdings in Tesla were worth $2,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Tesla in the 4th quarter valued at about $7,844,757,000. Vanguard Group Inc. increased its stake in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its holdings in shares of Tesla by 60.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock valued at $501,654,000 after buying an additional 1,072,366 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on TSLA shares. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Stifel Nicolaus began coverage on shares of Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price on the stock. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a report on Wednesday, July 24th. Finally, Truist Financial reissued a “hold” rating and set a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $204.21.

Tesla Stock Performance

TSLA opened at $214.11 on Monday. 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, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98. The business has a 50 day moving average of $222.00 and a 200-day moving average of $192.91. The stock has a market cap of $682.84 billion, a price-to-earnings ratio of 54.62, a PEG ratio of 5.55 and a beta of 2.31.

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

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.