GSG Advisors LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

GSG Advisors LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,495 shares of the electric vehicle producer’s stock after purchasing an additional 172 shares during the quarter. GSG Advisors LLC’s holdings in Tesla were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Keystone Wealth Services LLC increased its position in Tesla by 0.8% during the 2nd quarter. Keystone Wealth Services LLC now owns 5,993 shares of the electric vehicle producer’s stock worth $1,186,000 after purchasing an additional 49 shares in the last quarter. Davis R M Inc. increased its position in Tesla by 0.7% during the 4th quarter. Davis R M Inc. now owns 6,991 shares of the electric vehicle producer’s stock worth $1,737,000 after purchasing an additional 52 shares in the last quarter. Wealthcare Capital Management LLC boosted its stake in Tesla by 3.3% in the 4th quarter. Wealthcare Capital Management LLC now owns 1,744 shares of the electric vehicle producer’s stock worth $433,000 after buying an additional 56 shares during the last quarter. Clear Investment Research LLC boosted its stake in Tesla by 25.4% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the electric vehicle producer’s stock worth $70,000 after buying an additional 57 shares during the last quarter. Finally, Paulson Wealth Management Inc. boosted its stake in Tesla by 7.0% in the 4th quarter. Paulson Wealth Management Inc. now owns 869 shares of the electric vehicle producer’s stock worth $216,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, June 10th. Stifel Nicolaus initiated coverage on Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research note on Monday, July 29th. Finally, Piper Sandler lifted their price objective on Tesla from $205.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $204.21.

Tesla Stock Up 0.6 %

TSLA stock traded up $1.16 during midday trading on Friday, hitting $200.00. 58,648,274 shares of the company’s stock were exchanged, compared to its average volume of 100,019,031. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98. The firm has a 50 day moving average price of $212.04 and a 200-day moving average price of $190.28. The stock has a market capitalization of $637.84 billion, a price-to-earnings ratio of 51.02, a price-to-earnings-growth ratio of 5.18 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 1.79 EPS for the current year.

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.