Parkside Advisors LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 918 shares of the electric vehicle producer’s stock, valued at approximately $240,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Alpha Paradigm Partners LLC bought a new position in shares of Tesla during the third quarter worth about $27,000. GW&K Investment Management LLC acquired a new stake in Tesla during the first quarter worth about $30,000. St. Johns Investment Management Company LLC raised its position in shares of Tesla by 451.9% during the 1st quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after purchasing an additional 122 shares during the period. Worth Asset Management LLC acquired a new position in shares of Tesla during the first quarter valued at $111,000. Finally, Magellan Asset Management Ltd bought a new stake in Tesla in the 1st quarter valued at about $34,000. 41.87% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
TSLA has been the topic of several recent analyst reports. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating in a research note on Monday, June 12th. UBS Group started coverage on shares of Tesla in a research report on Tuesday, September 12th. They set a “neutral” rating and a $290.00 price target on the stock. The Goldman Sachs Group increased their price target on Tesla from $248.00 to $275.00 and gave the company a “neutral” rating in a research note on Monday, July 3rd. Truist Financial lifted their target price on Tesla from $240.00 to $254.00 and gave the stock a “hold” rating in a report on Thursday, July 20th. Finally, Citigroup increased their target price on shares of Tesla from $215.00 to $278.00 and gave the company a “neutral” rating in a research note on Wednesday, July 12th. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $239.43.
Tesla Stock Performance
TSLA opened at $274.39 on Friday. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $313.80. The company has a market cap of $870.91 billion, a PE ratio of 77.73, a price-to-earnings-growth ratio of 4.30 and a beta of 2.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59. The stock has a 50-day moving average of $255.83 and a 200-day moving average of $220.68.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. The company had revenue of $24.93 billion during the quarter, compared to analysts’ expectations of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The business’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.
Insider Buying and Selling at Tesla
In other news, SVP Xiaotong Zhu sold 1,065 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total transaction of $265,845.30. Following the completion of the transaction, the senior vice president now directly owns 59,540 shares in the company, valued at $14,862,374.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $250.02, for a total transaction of $1,000,080.00. Following the transaction, the chief financial officer now directly owns 104,504 shares in the company, valued at $26,128,090.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 1,065 shares of the company’s stock in a transaction on 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 owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The disclosure for this sale can be found here. Insiders have sold 55,815 shares of company stock valued at $14,384,135 in the last 90 days. 25.10% of the stock is currently owned by insiders.
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.
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