Sax Wealth Advisors LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,601 shares of the electric vehicle producer’s stock after buying an additional 54 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Tesla were worth $1,204,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Tesla during the 2nd quarter worth about $325,000. ExodusPoint Capital Management LP acquired a new position in shares of Tesla during the 2nd quarter worth about $1,356,000. MetLife Investment Management LLC boosted its position in shares of Tesla by 0.6% during the 2nd quarter. MetLife Investment Management LLC now owns 800,096 shares of the electric vehicle producer’s stock worth $209,441,000 after acquiring an additional 4,966 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Tesla by 54.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,483,254 shares of the electric vehicle producer’s stock worth $259,531,000 after acquiring an additional 520,920 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Tesla by 140.7% in the 2nd quarter. Bessemer Group Inc. now owns 29,711 shares of the electric vehicle producer’s stock valued at $7,777,000 after purchasing an additional 17,368 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.
Analysts Set New Price Targets
TSLA has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on Tesla from $300.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, September 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $275.00 price objective on shares of Tesla in a research note on Monday, September 18th. Jefferies Financial Group reduced their price objective on Tesla from $250.00 to $210.00 and set a “hold” rating for the company in a research note on Monday. Piper Sandler reduced 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. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $293.00 price objective on shares of Tesla in a research note on Friday, September 29th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $233.87.
Tesla Stock Down 0.4 %
Shares of TSLA traded down $0.85 during midday trading on Monday, reaching $233.45. 70,994,740 shares of the company were exchanged, compared to its average volume of 139,751,641. The company has a current ratio of 1.69, a quick ratio of 1.18 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 1-year low of $101.81 and a 1-year high of $299.29. The company has a market cap of $742.12 billion, a price-to-earnings ratio of 74.81, a P/E/G ratio of 4.38 and a beta of 2.28. The stock has a 50-day moving average price of $240.04 and a 200-day moving average price of $238.24.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings data on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.07). The firm had revenue of $23.35 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. Research analysts expect that Tesla, Inc. will post 2.68 earnings per share for the current year.
Insiders Place Their Bets
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 value of $1,000,080.00. Following the transaction, the chief financial officer now owns 104,504 shares in the company, valued at $26,128,090.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 104,504 shares of the company’s stock, valued at $26,128,090.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 2,500 shares of the company’s stock in a transaction that occurred 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. Insiders have sold 43,065 shares of company stock worth $10,248,880 in the last quarter. 25.10% of the stock is owned by corporate 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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