Burney Co. Acquires 127 Shares of Tesla, Inc. $TSLA

Burney Co. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,509 shares of the electric vehicle producer’s stock after purchasing an additional 127 shares during the period. Burney Co.’s holdings in Tesla were worth $1,750,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the first quarter valued at approximately $27,000. Chelsea Counsel Co. increased its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Centennial Bank AR increased its position in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Tesla during the second quarter valued at approximately $29,000. Finally, Evergreen Private Wealth LLC increased its position in shares of Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 5.1%

Shares of Tesla stock opened at $444.26 on Wednesday. The company’s fifty day simple moving average is $414.80 and its 200-day simple moving average is $351.91. The stock has a market capitalization of $1.48 trillion, a PE ratio of 296.17, a P/E/G ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. President Capital raised their price target on shares of Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. William Blair reissued a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Truist Financial lifted their target price on shares of Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $391.08.

Tesla 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.