Tesla, Inc. $TSLA Shares Acquired by Vest Financial LLC

Vest Financial LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 39.3% in the second quarter, Holdings Channel reports. The fund owned 29,151 shares of the electric vehicle producer’s stock after purchasing an additional 8,217 shares during the period. Vest Financial LLC’s holdings in Tesla were worth $9,260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Means Investment CO. Inc. raised its holdings in 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 buying an additional 6,323 shares during the period. Siren L.L.C. purchased a new stake in Tesla in the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC raised its holdings in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after buying an additional 826 shares during the period. Keystone Global Partners LLC purchased a new stake in Tesla in the 1st quarter valued at about $594,000. Finally, Strs Ohio purchased a new stake in Tesla in the 1st quarter valued at about $205,495,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of Tesla stock opened at $429.24 on Wednesday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a market cap of $1.43 trillion, a PE ratio of 248.12, a P/E/G ratio of 15.71 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The business has a 50-day simple moving average of $380.91 and a 200-day simple moving average of $330.17.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last 90 days. 19.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Dbs Bank lifted their target price on Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Piper Sandler lifted their target price on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. UBS Group set a $247.00 target price on Tesla in a research report on Monday, October 6th. The Goldman Sachs Group lifted their target price on Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Finally, TD Cowen lifted their target price on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $363.03.

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.