Centerpoint Advisory Group Has $404,000 Position in Tesla, Inc. $TSLA

Centerpoint Advisory Group increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,271 shares of the electric vehicle producer’s stock after buying an additional 282 shares during the period. Centerpoint Advisory Group’s holdings in Tesla were worth $404,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TSLA. First Merchants Corp grew its holdings in Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after buying an additional 31 shares in the last quarter. Alaska Wealth Advisors boosted its position in shares of Tesla by 3.4% in the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after acquiring an additional 32 shares during the period. KWB Wealth boosted its position in shares of Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after acquiring an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. raised its stake in Tesla by 3.6% in the 2nd 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 in the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its stake 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. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Guggenheim reiterated a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Stifel Nicolaus set a $483.00 target price on Tesla and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Melius Research set a $520.00 target price on Tesla and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Piper Sandler boosted their price target on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. One equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $391.08.

Tesla Stock Up 4.0%

Shares of NASDAQ:TSLA opened at $462.07 on Thursday. The company has a market capitalization of $1.54 trillion, a PE ratio of 308.05, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a 52-week low of $214.25 and a 52-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 company has a fifty day moving average of $417.05 and a 200-day moving average of $352.68.

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

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the company’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 in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. 19.90% of the stock is owned by insiders.

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.