Souders Financial Advisors Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Souders Financial Advisors raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,616 shares of the electric vehicle producer’s stock after buying an additional 70 shares during the quarter. Souders Financial Advisors’ holdings in Tesla were worth $1,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Tesla by 12.9% in the 1st 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. Strategic Financial Concepts LLC boosted its holdings in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Tesla by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after purchasing an additional 412,872 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA stock opened at $261.63 on Tuesday. The company has a market cap of $835.81 billion, a P/E ratio of 66.74, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock’s fifty day moving average price is $222.10 and its 200-day moving average price is $199.58.

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

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $254.00 target price on shares of Tesla in a report on Friday, September 13th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Monday, June 10th. William Blair initiated coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Stifel Nicolaus initiated coverage on Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price for the company. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $209.90.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s 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 directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated 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 directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is owned by company insiders.

Tesla 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.