Walker Asset Management LLC Buys 87 Shares of Tesla, Inc. $TSLA

Walker Asset Management LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 11,080 shares of the electric vehicle producer’s stock after purchasing an additional 87 shares during the quarter. Tesla comprises 2.0% of Walker Asset Management LLC’s portfolio, making the stock its 8th biggest holding. Walker Asset Management LLC’s holdings in Tesla were worth $3,520,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Smith Salley Wealth Management boosted its stake in shares of Tesla by 35.0% during the second quarter. Smith Salley Wealth Management now owns 5,474 shares of the electric vehicle producer’s stock valued at $1,739,000 after acquiring an additional 1,418 shares during the last quarter. City Holding Co. boosted its stake in shares of Tesla by 16.9% during the second quarter. City Holding Co. now owns 1,735 shares of the electric vehicle producer’s stock valued at $551,000 after acquiring an additional 251 shares during the last quarter. Symmetry Partners LLC boosted its stake in shares of Tesla by 51.6% during the second quarter. Symmetry Partners LLC now owns 1,569 shares of the electric vehicle producer’s stock valued at $498,000 after acquiring an additional 534 shares during the last quarter. Wagner Wealth Management LLC boosted its stake in shares of Tesla by 14.5% during the second quarter. Wagner Wealth Management LLC now owns 4,354 shares of the electric vehicle producer’s stock valued at $1,383,000 after acquiring an additional 551 shares during the last quarter. Finally, San Luis Wealth Advisors LLC boosted its stake in shares of Tesla by 88.8% during the second quarter. San Luis Wealth Advisors LLC now owns 23,273 shares of the electric vehicle producer’s stock valued at $7,393,000 after acquiring an additional 10,949 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. Guggenheim reiterated a “sell” rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. China Renaissance reiterated a “hold” rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Bank of America increased their target price on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Piper Sandler increased their target price on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $332.33.

Tesla Stock Performance

Tesla stock opened at $443.21 on Tuesday. The stock’s 50-day moving average is $354.34 and its 200-day moving average is $316.75. The company has a market cap of $1.47 trillion, a price-to-earnings ratio of 256.19, a price-to-earnings-growth ratio of 15.36 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 12 month low of $212.11 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released 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). 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 business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were 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 in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is currently owned by company insiders.

Tesla Company Profile

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.