Magnolia Capital Advisors LLC Acquires 327 Shares of Tesla, Inc. $TSLA

Magnolia Capital Advisors LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,785 shares of the electric vehicle producer’s stock after acquiring an additional 327 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in Tesla were worth $1,520,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TSLA. Brighton Jones LLC increased its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares during the period. Bison Wealth LLC increased its stake in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after buying an additional 3,558 shares during the period. Compass Wealth Management LLC increased its position in Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Tesla by 4.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,267,853 shares of the electric vehicle producer’s stock valued at $328,577,000 after purchasing an additional 57,189 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TSLA shares. HSBC boosted their price objective on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. William Blair reissued a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. New Street Research boosted their target price on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Piper Sandler increased 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $390.27.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s 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 sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last quarter. Insiders own 19.90% of the company’s stock.

Tesla Trading Up 2.6%

TSLA stock opened at $468.37 on Tuesday. The firm has a fifty day moving average price of $412.95 and a 200 day moving average price of $350.47. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market cap of $1.56 trillion, a PE ratio of 312.25, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same period last year, the firm posted $0.72 earnings per share. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share 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.