Miller Financial Services LLC Takes $203,000 Position in Tesla, Inc. $TSLA

Miller Financial Services LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 638 shares of the electric vehicle producer’s stock, valued at approximately $203,000.

Other hedge funds also recently added to or reduced their stakes in the company. First Merchants Corp grew its holdings in shares of Tesla by 1.3% in 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 period. Alaska Wealth Advisors boosted its position in Tesla by 3.4% during the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after purchasing an additional 32 shares in the last quarter. KWB Wealth grew its holdings in 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 purchasing an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. increased its position in shares of Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after buying an additional 34 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its stake in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after buying an additional 34 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $403.82 on Thursday. The business’s 50-day moving average price is $433.12 and its 200 day moving average price is $363.32. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a market capitalization of $1.34 trillion, a PE ratio of 269.21, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, 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 value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last quarter. Company insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TSLA. Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. TD Cowen lifted their price objective on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Stifel Nicolaus upped their target price on Tesla from $483.00 to $508.00 and gave the company a “buy” rating in a research note on Monday. Barclays reissued a “negative” rating and issued a $350.00 price target (up from $275.00) on shares of Tesla in a report on Thursday, October 16th. Finally, BNP Paribas Exane assumed coverage on Tesla in a research note on Thursday, October 16th. They set an “underperform” rating and a $307.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $394.31.

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.