AXS Investments LLC Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

AXS Investments LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 16.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,353 shares of the electric vehicle producer’s stock after buying an additional 608 shares during the period. AXS Investments LLC’s holdings in Tesla were worth $1,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Tesla during the 4th quarter valued at $3,459,540,000. Moneta Group Investment Advisors LLC grew its position in Tesla by 180,125.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after acquiring an additional 26,836,879 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Tesla by 203.9% during the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock valued at $5,360,358,000 after purchasing an additional 13,558,882 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Tesla by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,224,189 shares of the electric vehicle producer’s stock worth $5,440,471,000 after purchasing an additional 9,034,938 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Tesla by 98,265.8% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,971,790 shares of the electric vehicle producer’s stock valued at $1,563,235,000 after purchasing an additional 5,965,719 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Tesla Stock Performance

Tesla stock traded up $0.71 during mid-day trading on Friday, hitting $234.30. 142,766,234 shares of the company’s stock traded hands, compared to its average volume of 126,865,768. The firm has a 50 day moving average price of $240.04 and a 200 day moving average price of $237.16. 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 company has a market cap of $744.82 billion, a PE ratio of 75.34, a price-to-earnings-growth ratio of 4.38 and a beta of 2.28. Tesla, Inc. has a one year low of $101.81 and a one year high of $299.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.07). The business had revenue of $23.35 billion for the quarter, compared to the consensus estimate of $24.19 billion. Tesla had a net margin of 11.21% and a return on equity of 21.47%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.68 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. UBS Group cut their price objective on shares of Tesla from $290.00 to $266.00 and set a “neutral” rating on the stock in a report on Tuesday, October 10th. Wells Fargo & Company lowered their price objective on Tesla from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Thursday, October 19th. Wedbush reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Tesla in a research report on Monday, October 16th. Piper Sandler decreased their price target on shares of Tesla from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Monday, October 16th. Finally, StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $235.20.

Insider Buying and Selling at Tesla

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 sale, the senior vice president now owns 66,834 shares of the company’s stock, valued at approximately $16,209,250.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $250.02, for a total value of $1,000,080.00. Following the sale, the chief financial officer now owns 104,504 shares of the company’s stock, valued at approximately $26,128,090.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the senior vice president now directly owns 66,834 shares in the company, valued at approximately $16,209,250.02. The disclosure for this sale can be found here. Insiders have sold 43,065 shares of company stock valued at $10,248,880 in the last quarter. Corporate insiders own 25.10% of the company’s stock.

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.