Centerpoint Advisory Group Has $404,000 Stock Position in Tesla, Inc. $TSLA

Centerpoint Advisory Group increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,271 shares of the electric vehicle producer’s stock after acquiring an additional 282 shares during the period. Centerpoint Advisory Group’s holdings in Tesla were worth $404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Goldman Sachs Group Inc. lifted its position in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in shares of Tesla in the 1st quarter valued at about $3,247,619,000. Kingstone Capital Partners Texas LLC increased its position in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after buying an additional 6,435,598 shares in the last quarter. Amundi increased its position in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last three months. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Up 4.0%

TSLA opened at $462.07 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The company’s 50-day moving average is $417.05 and its 200 day moving average is $352.68. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 308.05, a PEG ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. New Street Research lifted their price objective on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Evercore ISI lifted their price objective on shares of Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and eleven have given a Sell rating to the stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $391.08.

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.