Bay Rivers Group Increases Holdings in Tesla, Inc. $TSLA

Bay Rivers Group grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,909 shares of the electric vehicle producer’s stock after buying an additional 141 shares during the quarter. Bay Rivers Group’s holdings in Tesla were worth $1,242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Means Investment CO. Inc. lifted its stake in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. grew its position in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after buying an additional 670 shares during the period. Siren L.L.C. bought a new position in shares of Tesla in the 1st quarter worth about $2,332,000. Zuckerman Investment Group LLC grew its holdings in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares during the period. Finally, Keystone Global Partners LLC purchased a new position in shares of Tesla during the first quarter valued at approximately $594,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on TSLA shares. Argus reiterated a “hold” rating on shares of Tesla in a research note on Monday, June 9th. HSBC reaffirmed a “reduce” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research report on Sunday, August 17th. UBS Group set a $290.00 price objective on Tesla in a research report on Monday, June 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $303.00.

Tesla Stock Performance

Shares of TSLA opened at $410.04 on Tuesday. The firm has a market capitalization of $1.32 trillion, a P/E ratio of 237.02, a PEG ratio of 13.81 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The business has a fifty day moving average of $331.21 and a 200 day moving average of $304.53.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity 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 the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,606 shares of company stock worth $51,999,662. 20.70% of the stock is owned by company insiders.

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.