Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Invst LLC

Invst LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,188 shares of the electric vehicle producer’s stock after purchasing an additional 1,180 shares during the quarter. Invst LLC’s holdings in Tesla were worth $1,299,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Bank & Trust Co acquired a new stake in Tesla in the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in Tesla in the fourth quarter valued at approximately $37,000. Finally, Kessler Investment Group LLC increased its position 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 purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TSLA. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $295.00 target price on shares of Tesla in a report on Tuesday, September 10th. Piper Sandler upped their price target on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Glj Research reaffirmed a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Thursday. Finally, Guggenheim increased their target price on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $209.90.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is currently owned by insiders.

Tesla Stock Performance

TSLA stock opened at $260.46 on Monday. The stock’s 50 day simple moving average is $221.89 and its 200 day simple moving average is $198.88. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The firm has a market cap of $830.66 billion, a P/E ratio of 66.44, a P/E/G ratio of 6.92 and a beta of 2.29. 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) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the company posted $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 1.75 EPS for the current 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.