Cetera Advisor Networks LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Cetera Advisor Networks LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 223,489 shares of the electric vehicle producer’s stock after buying an additional 17,329 shares during the period. Cetera Advisor Networks LLC’s holdings in Tesla were worth $58,503,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TSLA. Axiom Financial Strategies LLC raised its stake 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 buying an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after purchasing an additional 164,789 shares in the last quarter. MAS Advisors LLC increased its stake in shares of Tesla by 25.7% in the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after purchasing an additional 81 shares in the last quarter. Ergoteles LLC increased its stake 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 valued at $3,844,000 after purchasing an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Tesla by 6.8% in 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 in the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Tesla Stock Up 0.5 %

NASDAQ:TSLA opened at $238.70 on Wednesday. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $299.29. The stock’s fifty day moving average is $240.87 and its two-hundred day moving average is $236.64. 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 capitalization of $758.81 billion, a price-to-earnings ratio of 76.34, a price-to-earnings-growth ratio of 4.16 and a beta of 2.28.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Guggenheim restated a “sell” rating and issued a $125.00 price target on shares of Tesla in a research note on Thursday, October 19th. TD Cowen lifted their price target on Tesla from $150.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, July 20th. Citigroup cut their price objective on Tesla from $271.00 to $255.00 and set a “neutral” rating for the company in a research note on Thursday, October 19th. Canaccord Genuity Group reiterated a “buy” rating and set a $293.00 price objective on shares of Tesla in a research note on Friday, September 29th. Finally, Barclays reiterated an “equal weight” rating and set a $260.00 price objective on shares of Tesla in a research note on Friday, September 22nd. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $235.20.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the 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 transaction, the senior vice president now owns 66,834 shares of the company’s stock, valued at $16,209,250.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $250.02, for a total transaction of $1,000,080.00. Following the completion of the transaction, the chief financial officer now owns 104,504 shares of the company’s stock, valued at approximately $26,128,090.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,065 shares of company stock valued at $10,248,880. 20.90% of the stock is currently owned by company insiders.

About Tesla

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.