Mainsail Asset Management LLC Acquires 51 Shares of Tesla, Inc. $TSLA

Mainsail Asset Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.4% during the second quarter, Holdings Channel.com reports. The fund owned 3,786 shares of the electric vehicle producer’s stock after purchasing an additional 51 shares during the period. Tesla comprises about 0.7% of Mainsail Asset Management LLC’s holdings, making the stock its 17th largest holding. Mainsail Asset Management LLC’s holdings in Tesla were worth $1,203,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. REAP Financial Group LLC boosted its position in shares of Tesla by 52.6% during the second quarter. REAP Financial Group LLC now owns 862 shares of the electric vehicle producer’s stock worth $274,000 after purchasing an additional 297 shares in the last quarter. Sax Wealth Advisors LLC boosted its position in shares of Tesla by 40.1% during the second quarter. Sax Wealth Advisors LLC now owns 4,795 shares of the electric vehicle producer’s stock worth $1,523,000 after purchasing an additional 1,373 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Tesla by 31.1% during the second quarter. Venturi Wealth Management LLC now owns 17,306 shares of the electric vehicle producer’s stock worth $5,497,000 after purchasing an additional 4,105 shares in the last quarter. TPG Financial Advisors LLC boosted its position in shares of Tesla by 7.8% during the second quarter. TPG Financial Advisors LLC now owns 1,994 shares of the electric vehicle producer’s stock worth $633,000 after purchasing an additional 144 shares in the last quarter. Finally, First Financial Group Corp boosted its position in shares of Tesla by 5.0% during the second quarter. First Financial Group Corp now owns 2,081 shares of the electric vehicle producer’s stock worth $661,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TSLA shares. Glj Research reissued a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Dbs Bank boosted their price objective on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. HSBC boosted their price objective on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Finally, Piper Sandler boosted their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $345.70.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Stock Up 1.3%

Shares of TSLA stock opened at $438.69 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm’s fifty day moving average price is $371.20 and its two-hundred day moving average price is $325.56. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 253.58, a PEG ratio of 15.92 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company 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, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.