Delta Financial Group Inc. Has $1.40 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Delta Financial Group Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,355 shares of the electric vehicle producer’s stock after selling 76 shares during the period. Delta Financial Group Inc.’s holdings in Tesla were worth $1,401,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Tesla by 12.9% during 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 acquiring an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC raised its holdings in 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 valued at $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after acquiring an additional 135,966 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Tesla by 9.1% during 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 owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. HSBC boosted their price target on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Stifel Nicolaus assumed coverage on shares of Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 price objective on shares of Tesla in a research note on Friday, September 13th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Finally, Truist Financial lifted their price target on Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a research note on Thursday. Nine equities research 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.com, the company has a consensus rating of “Hold” and an average price target of $210.54.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the 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 directly owns 105,032 shares in the company, valued at approximately $26,258,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 in the last quarter. Company insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $240.66 on Friday. The firm’s fifty day simple moving average is $223.40 and its two-hundred day simple moving average is $200.86. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $767.51 billion, a P/E ratio of 61.39, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. As a group, 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.