Profund Advisors LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 16.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 171,185 shares of the electric vehicle producer’s stock after purchasing an additional 24,689 shares during the period. Tesla accounts for about 2.4% of Profund Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. Profund Advisors LLC’s holdings in Tesla were worth $44,811,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently modified their holdings of the stock. Alpha Paradigm Partners LLC purchased a new stake in Tesla in the third quarter worth about $27,000. GW&K Investment Management LLC bought a new position in Tesla during the 1st quarter valued at approximately $30,000. Mendota Financial Group LLC raised its stake in Tesla by 3,733.3% during the second quarter. Mendota Financial Group LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after buying an additional 112 shares during the last quarter. MayTech Global Investments LLC bought a new stake in Tesla in the fourth quarter worth $30,000. Finally, St. Johns Investment Management Company LLC grew its stake in shares of Tesla by 451.9% in the first quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after acquiring an additional 122 shares during the last quarter. Institutional investors own 41.87% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $275.00 price target on shares of Tesla in a research note on Monday, September 18th. Truist Financial cut their price target on shares of Tesla from $254.00 to $243.00 and set a “hold” rating on the stock in a report on Monday, October 2nd. Wedbush restated an “outperform” rating and issued a $350.00 price objective on shares of Tesla in a report on Monday, October 16th. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Finally, Morgan Stanley decreased their price target on Tesla from $400.00 to $380.00 and set an “overweight” rating for the company in a research note on Thursday, October 19th. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $235.20.
Tesla Price Performance
TSLA traded up $0.71 during trading on Friday, reaching $234.30. 142,766,234 shares of the company traded hands, compared to its average volume of 126,865,768. Tesla, Inc. has a 12-month low of $101.81 and a 12-month high of $299.29. The firm has a fifty day simple moving average of $240.04 and a 200 day simple moving average of $237.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.18 and a current ratio of 1.69. The company has a market cap of $744.82 billion, a P/E ratio of 75.34, a PEG ratio of 4.38 and a beta of 2.28.
Tesla (NASDAQ:TSLA – Get Free Report) last posted 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). Tesla had a net margin of 11.21% and a return on equity of 21.47%. 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 previous year, the business posted $0.95 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 2.68 EPS for the current year.
Insider Transactions at Tesla
In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $242.53, for a total transaction 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 approximately $16,209,250.02. The transaction was disclosed in a document filed 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 stock in a transaction on Monday, August 28th. The shares were sold at an average price of $242.53, for a total transaction 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 is available through the SEC website. Also, 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 completion of the sale, the chief financial officer now owns 104,504 shares in the company, valued at $26,128,090.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,065 shares of company stock valued at $10,248,880. 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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