AlphaCore Capital LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

AlphaCore Capital LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 67.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,860 shares of the electric vehicle producer’s stock after buying an additional 750 shares during the period. AlphaCore Capital LLC’s holdings in Tesla were worth $487,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Axiom Financial Strategies LLC increased its position in shares of Tesla by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after purchasing an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after acquiring an additional 164,789 shares in the last quarter. MAS Advisors LLC raised its stake in shares of Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after acquiring an additional 81 shares in the last quarter. Ergoteles LLC lifted its holdings in shares of Tesla by 33.4% in the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after acquiring an additional 893 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Tesla by 6.8% during the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after purchasing an additional 4,593 shares during the last quarter. Institutional investors own 41.87% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $237.41 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.69 and a debt-to-equity ratio of 0.04. The stock has a market cap of $754.71 billion, a P/E ratio of 76.34, a P/E/G ratio of 4.16 and a beta of 2.28. The business’s 50 day moving average price is $240.87 and its 200-day moving average price is $236.64. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $299.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 18th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.07). The company had revenue of $23.35 billion during the quarter, compared to the consensus estimate of $24.19 billion. Tesla had a return on equity of 21.47% and a net margin of 11.21%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $242.53, for a total value of $2,546,565.00. Following the transaction, the senior vice president now owns 66,834 shares in the company, valued at $16,209,250.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now owns 66,834 shares in the company, valued at $16,209,250.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 2,500 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $257.23, for a total value of $643,075.00. Following the sale, the senior vice president now directly owns 57,972 shares in the company, valued at $14,912,137.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,065 shares of company stock worth $10,248,880. 20.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSLA. UBS Group cut their price target on shares of Tesla from $290.00 to $266.00 and set a “neutral” rating for the company in a research report on Tuesday, October 10th. Morgan Stanley decreased their price target on Tesla from $400.00 to $380.00 and set an “overweight” rating on the stock in a research note on Thursday, October 19th. Piper Sandler dropped their price objective on Tesla from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Royal Bank of Canada restated an “outperform” rating and issued a $305.00 target price on shares of Tesla in a report on Tuesday, September 26th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $293.00 price target on shares of Tesla in a report on Friday, September 29th. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $235.20.

Tesla 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.