Welch Group LLC Has $911,000 Holdings in Tesla, Inc. $TSLA

Welch Group LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,869 shares of the electric vehicle producer’s stock after selling 246 shares during the period. Welch Group LLC’s holdings in Tesla were worth $911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Merchants Corp boosted its holdings in Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after acquiring an additional 31 shares during the last quarter. KWB Wealth lifted its position in shares of Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after purchasing an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. boosted its holdings in Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after purchasing an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. grew its position in Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares in the last quarter. Finally, Acorn Creek Capital LLC increased its stake in Tesla by 1.6% in the 2nd quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock valued at $697,000 after buying an additional 34 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. Wedbush boosted their target price on Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Industrial Alliance Securities set a $300.00 price objective on Tesla in a research note on Monday. Canaccord Genuity Group lifted their target price on Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Royal Bank Of Canada increased their price target on shares of Tesla from $325.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $363.03.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 over the last 90 days. Corporate insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $435.90 on Tuesday. The firm has a market capitalization of $1.45 trillion, a PE ratio of 251.97, a P/E/G ratio of 14.92 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $378.50 and a two-hundred day moving average price of $329.48. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted 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). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.