Tesla, Inc. $TSLA Position Increased by Goldstein Advisors LLC

Goldstein Advisors LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 26.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,780 shares of the electric vehicle producer’s stock after purchasing an additional 375 shares during the quarter. Goldstein Advisors LLC’s holdings in Tesla were worth $565,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. First PREMIER Bank grew its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla during the 1st quarter worth approximately $27,000. Chelsea Counsel Co. grew its position in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Evergreen Private Wealth LLC grew its position in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares in the last quarter. Finally, Centennial Bank AR grew its position in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 2.5%

Shares of NASDAQ:TSLA opened at $439.31 on Friday. The firm has a fifty day moving average of $387.54 and a two-hundred day moving average of $333.60. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 253.94, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 period in the previous year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of Tesla 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 completion of the sale, the director owned 637,031 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Canaccord Genuity Group lifted their price objective on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Piper Sandler lifted their price objective on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Finally, Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $363.54.

About Tesla

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.