Trellis Advisors LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Trellis Advisors LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,542 shares of the electric vehicle producer’s stock after buying an additional 304 shares during the quarter. Trellis Advisors LLC’s holdings in Tesla were worth $735,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MidWestOne Financial Group Inc. boosted its holdings in shares of Tesla by 3.3% in the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after purchasing an additional 15 shares during the period. Linscomb & Williams Inc. boosted its holdings in shares of Tesla by 3.5% in the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after purchasing an additional 42 shares during the period. Salem Investment Counselors Inc. boosted its holdings in shares of Tesla by 22.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 263 shares of the electric vehicle producer’s stock worth $283,000 after purchasing an additional 48 shares during the period. Manchester Financial Inc. boosted its holdings in shares of Tesla by 1.2% in the 4th quarter. Manchester Financial Inc. now owns 4,441 shares of the electric vehicle producer’s stock worth $547,000 after purchasing an additional 51 shares during the period. Finally, Johnson Bixby & Associates LLC boosted its holdings in shares of Tesla by 2.1% in the 1st quarter. Johnson Bixby & Associates LLC now owns 2,769 shares of the electric vehicle producer’s stock worth $574,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock traded down $13.07 during mid-day trading on Friday, reaching $245.01. 132,541,640 shares of the stock traded hands, compared to its average volume of 145,809,469. The business has a 50-day moving average of $256.71 and a 200 day moving average of $216.62. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $313.80. The stock has a market capitalization of $777.66 billion, a PE ratio of 69.41, a PEG ratio of 3.70 and a beta of 2.07. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The business had revenue of $24.93 billion during the quarter, compared to analysts’ expectations of $24.22 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The business’s revenue was up 47.2% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 2.95 EPS for the current year.

Insider Activity

In other news, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $217.69, for a total value of $816,337.50. Following the completion of the sale, the chief financial officer now directly owns 191,822 shares in the company, valued at $41,757,731.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Zachary Kirkhorn sold 3,750 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $217.69, for a total value of $816,337.50. Following the completion of the transaction, the chief financial officer now directly owns 191,822 shares in the company, valued at $41,757,731.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 2,500 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $260.00, for a total value of $650,000.00. Following the completion of the transaction, the senior vice president now owns 65,438 shares of the company’s stock, valued at $17,013,880. The disclosure for this sale can be found here. Insiders sold 70,979 shares of company stock worth $17,907,222 over the last ninety days. Corporate insiders own 20.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TSLA. UBS Group lowered Tesla from a “buy” rating to a “neutral” rating and raised their price target for the stock from $220.00 to $270.00 in a research note on Monday, July 24th. Sanford C. Bernstein reissued an “underperform” rating and set a $150.00 price target on shares of Tesla in a research note on Thursday, July 20th. Robert W. Baird raised their price target on Tesla from $252.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. TD Cowen raised their price target on Tesla from $150.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, July 20th. Finally, Mizuho raised their price target on Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Six research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $233.77.

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. It 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, retail merchandise, and vehicle insurance services.