Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by PrairieView Partners LLC

PrairieView Partners LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 11.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 813 shares of the electric vehicle producer’s stock after acquiring an additional 81 shares during the quarter. PrairieView Partners LLC’s holdings in Tesla were worth $160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Integris Wealth Management LLC boosted its position in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the period. Echo Wealth Management LLC lifted its position in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the period. Bellevue Asset Management LLC raised its stake in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the period. Finally, Cypress Capital Group boosted its position in shares of Tesla by 1.7% in the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after buying an additional 47 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Tesla 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 transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 650 shares of the firm’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 sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TSLA shares. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research note on Friday, July 5th. Glj Research boosted their price objective on shares of Tesla from $22.86 to $24.86 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a report on Wednesday, July 24th. Royal Bank of Canada cut their price target on Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research note on Friday, August 16th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $204.21.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $214.11 on Monday. The stock has a market capitalization of $682.84 billion, a PE ratio of 54.62, a price-to-earnings-growth ratio of 5.55 and a beta of 2.31. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $278.98. The stock has a 50 day moving average price of $222.00 and a 200 day moving average price of $192.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

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