Csenge Advisory Group Has $8.66 Million Holdings in Tesla, Inc. $TSLA

Csenge Advisory Group lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,986 shares of the electric vehicle producer’s stock after selling 2,039 shares during the quarter. Csenge Advisory Group’s holdings in Tesla were worth $8,657,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TSLA. Brighton Jones LLC raised its stake in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares in the last quarter. Bison Wealth LLC raised its stake in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Tesla by 4.7% during the first quarter. Envestnet Asset Management Inc. now owns 1,267,853 shares of the electric vehicle producer’s stock worth $328,577,000 after acquiring an additional 57,189 shares in the last quarter. Finally, Centennial Bank AR raised its stake in Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLA. Stifel Nicolaus set a $483.00 price target on Tesla and gave the stock a “buy” rating in a report on Wednesday, October 8th. Cantor Fitzgerald set a $510.00 price target on Tesla and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Canaccord Genuity Group reduced their target price on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. William Blair reiterated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Finally, Piper Sandler upped their target price on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $391.08.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the 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 completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last ninety days. 19.90% of the stock is owned by company insiders.

Tesla Price Performance

Tesla stock opened at $444.26 on Wednesday. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 296.17, a PEG ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The stock’s 50 day moving average price is $414.80 and its two-hundred day moving average price is $351.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for 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 company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.