Affinity Capital Advisors LLC Has $1.68 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Affinity Capital Advisors LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,483 shares of the electric vehicle producer’s stock after selling 272 shares during the period. Affinity Capital Advisors LLC’s holdings in Tesla were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank & Trust Co acquired a new stake in shares of Tesla in the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla in the second quarter valued at $26,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla in the 4th quarter valued at about $37,000. Guardian Wealth Management Inc. acquired a new position in shares of Tesla during the 4th quarter worth about $47,000. Finally, Kessler Investment Group LLC lifted its stake in Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 1.7 %

TSLA stock opened at $254.27 on Wednesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The firm has a market capitalization of $812.30 billion, a PE ratio of 64.86, a PEG ratio of 6.80 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $221.20 and a two-hundred day simple moving average of $197.14.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. On average, equities analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, 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 value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated 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 in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TSLA shares. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Mizuho increased their price objective on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 target price on shares of Tesla in a report on Monday, July 1st. Piper Sandler reissued an “overweight” rating and issued a $300.00 price target on shares of Tesla in a report on Monday, August 19th. Finally, Truist Financial reiterated a “hold” rating and set a $215.00 target price on shares of Tesla in a research note on Wednesday, August 14th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $209.60.

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.