Total Investment Management Inc. Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Total Investment Management Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,475 shares of the electric vehicle producer’s stock after acquiring an additional 255 shares during the period. Tesla makes up about 0.2% of Total Investment Management Inc.’s holdings, making the stock its 26th largest holding. Total Investment Management Inc.’s holdings in Tesla were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Empower Advisory Group LLC purchased a new position in shares of Tesla during the 1st quarter valued at $98,698,000. DoubleLine ETF Adviser LP purchased a new position in Tesla during the first quarter worth about $11,384,000. Private Trust Co. NA increased its stake in Tesla by 87.8% in the 1st quarter. Private Trust Co. NA now owns 5,138 shares of the electric vehicle producer’s stock worth $1,066,000 after acquiring an additional 2,402 shares during the last quarter. Berkeley Capital Partners LLC raised its holdings in shares of Tesla by 1.6% in the 1st quarter. Berkeley Capital Partners LLC now owns 5,212 shares of the electric vehicle producer’s stock valued at $1,081,000 after acquiring an additional 81 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC boosted its position in shares of Tesla by 8.7% during the 1st quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,593 shares of the electric vehicle producer’s stock valued at $953,000 after acquiring an additional 368 shares during the last quarter. 41.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 1,065 shares of Tesla stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the transaction, the senior vice president now directly owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $242.53, for a total value of $2,546,565.00. Following the completion of the sale, the senior vice president now directly owns 66,834 shares in the company, valued at approximately $16,209,250.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 1,065 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the transaction, the senior vice president now directly owns 59,540 shares of the company’s stock, valued at approximately $14,862,374.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,815 shares of company stock valued at $14,384,135. 25.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TSLA shares. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating in a research report on Monday, June 12th. Canaccord Genuity Group raised their price target on Tesla from $257.00 to $293.00 and gave the company a “buy” rating in a research report on Monday, July 3rd. Citigroup upped their price objective on Tesla from $215.00 to $278.00 and gave the stock a “neutral” rating in a report on Wednesday, July 12th. Wedbush raised their price objective on Tesla from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, July 20th. Finally, Truist Financial boosted their target price on Tesla from $240.00 to $254.00 and gave the stock a “hold” rating in a research report on Thursday, July 20th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $239.43.

Tesla Stock Performance

Tesla stock opened at $276.04 on Friday. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $313.80. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $876.15 billion, a P/E ratio of 78.20, a PEG ratio of 4.23 and a beta of 2.09. The stock’s 50 day moving average is $255.83 and its 200 day moving average is $220.11.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The firm had revenue of $24.93 billion for the quarter, compared to analysts’ expectations of $24.22 billion. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The company’s quarterly revenue was up 47.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 2.94 earnings per share for the current fiscal 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. 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.