3Chopt Investment Partners LLC Acquires New Holdings in Tesla, Inc. (NASDAQ:TSLA)

3Chopt Investment Partners LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, Holdings Channel reports. The fund purchased 6,684 shares of the electric vehicle producer’s stock, valued at approximately $1,323,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Heartland Bank & Trust Co increased its position in Tesla by 1.1% during the 2nd quarter. Heartland Bank & Trust Co now owns 6,373 shares of the electric vehicle producer’s stock worth $1,261,000 after purchasing an additional 69 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in shares of Tesla in the second quarter valued at approximately $9,305,000. Ted Buchan & Co purchased a new position in shares of Tesla during the second quarter valued at approximately $308,000. Advisory Alpha LLC raised its holdings in Tesla by 13.5% in the 2nd quarter. Advisory Alpha LLC now owns 13,305 shares of the electric vehicle producer’s stock valued at $2,633,000 after acquiring an additional 1,578 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Tesla by 5.0% during the 2nd quarter. Truist Financial Corp now owns 604,935 shares of the electric vehicle producer’s stock worth $119,705,000 after purchasing an additional 28,650 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA opened at $261.63 on Tuesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The stock has a market cap of $835.81 billion, a PE ratio of 66.74, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29. The business’s 50 day moving average is $222.10 and its 200-day moving average is $199.58. 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 quarterly earnings data 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 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 prior year, the firm earned $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated 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 sale, 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. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 over the last quarter. Corporate insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSLA. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Argus reaffirmed a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Canaccord Genuity Group reiterated a “buy” rating and issued a $254.00 price target on shares of Tesla in a report on Friday, September 13th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $209.90.

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.